Walgreens will close 25% of all its stores in the USA

Walgreens USA

Walgreens Boots Alliance is adjusting its strategy in response to recent economic challenges.

Due to inflation and rising prices, Walgreens will close stores in the USA (25% of its stores).

Tim Wentworth, CEO of the company, revealed in an investor conference call that they are evaluating the closure of approximately 25% of their remaining stores over the next three years.

This measure will affect locations that are not generating adjusted operating income, while the remaining stores will continue to operate normally.

Additionally, Walgreens has taken steps to enhance competitiveness in the market. They recently reduced prices on over 1,000 products, a move aimed at alleviating financial pressure on customers and improving the value and convenience of their products.

This initiative includes essential items such as vitamins, personal care products, and household items, with the goal of maintaining their commitment to over 110 million myWalgreens loyalty program members.

These actions are part of a broader strategy to tackle current challenges and ensure the future growth of Walgreens in a dynamic and competitive market.