Walgreens will close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround a struggling U.S. business that contributed to a $3 billion quarterly loss. The company said Tuesday that about 500 store closures will come in the current fiscal year and should immediately support adjusted earnings and free cash flow. Walgreens didn’t say where the store closings would take place. Walgreens operates about 8,500 stores in the United States and a few thousand overseas. All of the stores that will be closed are in the United States.
Read the full article: Walgreens to Close 1,200 US Stores as Chain Attempts to Steady Operations at Home //
Source: https://apnews.com/article/walgreens-closing-drugstores-fiscal-fourth-quarter-5df931861e1e4111eaa5ef2372ec173a