Drug store chain Walgreens is planning on closing about 1,200 stores by 2027, which is roughly 1 in every 7 stores. Over the next year, approximately 500 stores will close.
The company has been struggling financially and has been on a billion dollar cost cutting spree, as well as already closing some unprofitable stores, renegotiating insurance deals and changing up leadership.
Tim Wentworth, CEO, said the “turnaround” would “take time, “ and “We are confident it will yield significant financial and consumer benefits over the long term.
By - FZ
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