By Jordan Valinsky | CNNWalgreens 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. The closures would focus on locations that aren’t profitable, too close to each other, or stores struggling with theft, Wentworth told the Journal. Walgreens’ shares fell nearly 9% in premarket trading, which also announced during its earnings that it has slashed its full-year profit outlook. Wentworth told the Journal it’s losing money on filling those prescriptions.

Source: CNN June 27, 2024 15:08 UTC