Walgreens plans to close 200 stores in the U.S. as the company also pares back its locations in the U.K. Parent company, Walgreens Boots Alliance, Inc. earlier this year announced plans to close 200 stores in the U.K. and review its U.S. footprint. The new store closures represent less than 3% of its 10,000 locations in the U.S.
Walgreens also hopes to save $1.5 billion in annual expenses by fiscal 2022. Walgreens expects to record a $1.9 billion to $2.4 billion earnings hit related to real estate, severance, and other costs. The announcement marks Walgreens’ largest round of closures since 2015, when it also closed 200 stores. Its parent company, which bought 1,932 Rite Aid locations in 2018, has since closed 631 of those stores and plans to close another 119.
Walgreens is the the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. With a footprint of over 9,560 retail stores in all 50 states including the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, along with the omnichannel business at Walgreens.com, Walgreens aims to make a charge toward their vision and purpose more attainable as well as further care for the communities that are served.
Walgreens Boots Alliance, Inc. is the first global pharmacy-led, health, and wellbeing enterprise. The company’s heritage of trusted health care services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years. Walgreens Boots Alliance is the largest retail pharmacy, health, and daily living destination across the U.S. and Europe. Together, it has approximately 18,500 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 390 distribution centers delivering to more than 230,000 pharmacies, doctors, health centers, and hospitals each year in more than 20 countries.
This was reported by CNBC on August 6, 2019.
Contact information: Walgreens, 200 Wilmot Road, MS 2002, Deerfield, Illinois 60015; 800–925–4733; Website: www.walgreens.com
Contact information: Walgreens Boots Alliance, Inc., 108 Wilmot Road, Deerfield, Illinois 60015; 847-315-3700; Website: www.walgreensbootsalliance.com