The company didn’t announce a specific number of store closures, but said it is planning “significant” closures of underperforming stores across America.
Walgreens is set to close a substantial number of its roughly 8,600 locations across the United States as the company looks to reset the struggling pharmaceutical chain’s business.The company didn’t announce a specific number of store closures, but it said Thursday that it is planning “significant” closures of underperforming stores across America as part of a multiyear optimization program.Video above: Walgreens closure leaves Mass.
Walgreens’ shares fell nearly 9% in premarket trading, which also announced during its earnings that it has slashed its full-year profit outlook.“We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins,” Wentworth said in a press release. “Our results and outlook reflect these headwinds.
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