PHOTO: FileWalgreens announced Tuesday that it will close 1,200 stores over the next three years.
The company said 500 locations will close in 2025.
“Our financial results in the fiscal fourth quarter and full year 2024 reflected our disciplined execution on cost management, working capital initiatives and capex reduction. In fiscal 2025, we are focusing on stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow, and continuing to address reimbursement models to support dispensing margins and preserve patient access for the future,” said Tim Wentworth, Chief Executive Officer, Walgreens Boots Alliance. “Fiscal 2025 will be an important rebasing year as we advance our strategy to drive value creation. This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term.”
The news of 1,200 closures came as the firm announced its fourth-quarter and full-year results for fiscal 2024, reporting a $3 billion loss during the quarter.
The exact stores have not been made public.
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