Walgreens to shutter 200 US locations as part of cost-saving measure

DEERFIELD, Ill. – Walgreens will be closing 200 stores in the United States in an effort to reduce costs, the pharmacy’s parent company said in a regulatory filing Tuesday.

The company projects the move will save more than $1.5 billion by the fiscal year 2022.

In May, Walgreens Boots Alliance revealed that 200 stores in the United Kingdom were slated for closure, and said they would be reviewing the company’s “real estate footprint” in the United States.

The company has more than 18,500 stores in 11 countries, according to the Walgreens Boots Alliance website.

After June reports of a 24% decline in quarterly net income, the company’s stock has plunged almost 25% this year.

2 comments

    • Joe Justjoe (@ForjoeJustjoe)

      The money that was wasted by these big corporations is sinful. And it’s penance time. Retail jeweler Signet went on a buying spree a few years back and wasted enough money to house every homeless person in America when they bought out Zales and other competitors. Wall St drove the price of Signet to $150/sh on the news. Now trading at $16/sh. Hopefully on its way to bankruptcy too. Signet could have bought Zales in bankruptcy if they just waited.

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