Walgreens to Close Hundreds of Underperforming Stores

The pharmacy chain faces industry challenges and increasing competition, leading to significant restructuring.

Walgreens plans to shutter a significant portion of its 8,600 US locations over the next three years.
Approximately 25% of Walgreens stores are underperforming and may be closed if they don't improve.
The closures follow a trend among major pharmacy chains like CVS and Rite Aid, which have also reduced their store counts.
Walgreens' restructuring aims to address an unsustainable pharmacy model and a challenging operating environment.
Employees from closed stores will be relocated to other locations where possible.