Walgreens is set to close dozens of underperforming stores all across the United States citing a ‘a difficult operating environment’. The pharmacy chain says it plans to close a “significant” number of underperforming stores across the U.S. due to ongoing challenges with profitability of declining margins. Walgreens has been the target for a number of shoplifters and also saying that they have had declining profits from prescription drugs.
Walgreens CEO Time Wentworth said “We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins.”
“Informed by our strategic review, we are focused on improving our core business: retail pharmacy, which is central to the future of healthcare,” Wentworth said. “We are addressing critical issues with urgency and working to unlock opportunities for growth.”
A list of stores that are closing is not available at this time.
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