Last updated on June 13th, 2024 at 05:25 pm
Walgreens plans to close about 200 U.S. stores, part of the drugstore chain’s $1 billion cost-reduction plan announced last fall. The national chain made the announcement as part of a larger corporate reorganization plan, including streamlining its information technology and other in-house functions. The company expects that the changes will result in a cost savings of about $500 million over three years.
The approximately 200 stores represent about 2 percent of the chain’s 8,200-plus stores in the U.S., Puerto Rico and the U.S. Virgin Islands.
Despite the announced closures, Walgreens said it opened 71 new U.S. drugstores in the first half of fiscal 2015, including 25 relocations. The company said it has not yet decided which stores it will close or when the closures will happen.
