Walgreens to Close Up to 25% of Stores
Walgreens to Close Up to 25% of Stores
Walgreens to Close Up to 25% of Stores
News summary

Walgreens Boots Alliance plans to close up to 25% of its 8,600 U.S. stores over the next three years due to weak consumer spending, increased operational challenges, and growing theft. CEO Tim Wentworth, who initiated a company overhaul including cost-cutting measures and executive changes, cited persistent economic pressures and reduced pharmacy margins as factors influencing the decision. Walgreens has also halved its dividend and plans to simplify its U.S. healthcare portfolio. The closures come amid a broader trend of retail struggles, with other chains like Rite Aid also announcing closures. The company aims to redeploy most affected employees to other locations.

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Center 36%
Right 29%
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4
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Last Updated
102 days ago
Bias Distribution
36% Center

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