News & Press: National News

Walgreens to Shutter 200 U.S. Stores

Thursday, August 8, 2019  
Share |

Claire Hansen | US News

Aug. 7, 2019


MIAMI, FLORIDA - APRIL 02: A Walgreens store is seen on April 02, 2019 in Miami, Florida. Walgreens Boots Alliance Inc. reported a fiscal second-quarter earnings that missed expectations and has slashed its full-year outlook in a reaction to the companies report its shares plummeted 12% on Tuesday.

Walgreens will close about 200 U.S. storesJOE RAEDLE/GETTY IMAGES

PHARMACY GIANT Walgreens will close about 200 U.S. stores, the chain indicated in an SEC filing posted Tuesday.

The closings represent 3% of Walgreens' roughly 9,600 stores. The pharmacy chain said in a statement it expects to retain the majority of employees affected by the closings by staffing them at nearby locations.

"As previously announced, we are undertaking a transformational cost management program to accelerate the ongoing transformation of our business, enable investments in key areas and to become a more efficient enterprise," a company spokesperson said in a statement to U.S. News. "Given that these closures will represent less than 3 percent of our stores overall, and given that we have multiple locations in many markets, we anticipate minimal disruption to customers and patients."

Walgreens has not released a list of stores it expects to shutter.

The pharmacy giant acquired about half of competitor Rite Aid's stores in 2017, expanding its network of locations.

FCFP Sponsors