Walgreens is planning to close 450 stores in the U.S. and U.K. as part of cost-saving initiatives.
The company has not yet announced which stores will be closing or when closures could begin.
Walgreens CEO Roz Brewer attributed the closures to changing market trends, the end of fiscal stimulus, and a weaker respiratory season.
Lower than expected demand for COVID-19 vaccinations and testing impacted the company’s performance. Closings are speculated to occur in spring 2024.
CVS has also announced store closings in various markets.
There are currently 9,000 Walgreens stores in the U.S., with 1,100 open for reduced operating hours.
A location in Raleigh, NC closed last week.
What kind of impact do you think this will have on access to pharmaceuticals?
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