Walgreens To Close 1,200 Stores

Walgreens plans to close about 1,200 stores over three years amid a decline in prescription drug payments and a rise in online competition.

Walgreens said its operating loss in fiscal 2024 was $14.1 billion, an increase of 104.5 percent compared to the year-ago period.
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Joe Lombardi

10/15/2024 8:40 a.m.

About 500 closures will come in 2025, the company announced in a statement released Tuesday morning, Oct. 15. Specific sites for store closures were not announced.

Walgreens said its operating loss in fiscal 2024 was $14.1 billion, an increase of 104.5 percent compared to the year-ago period.

Retail sales decreased 3.5 percent compared with the year-ago quarter, "reflecting a challenging retail environment and continued channel shift," Walgreens said.

The new announcement comes after the company announced in June that it was shuttering 150 underperforming US locations.

Founded in Chicago in 1901, Walgreens has around 9,000 stores, making it the nation's second-largest drug store chain behind CVS Health.

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