Walgreens planning to close significant number of U.S. stores
(LIVE NOW FOX) – Walgreens is planning to close a significant share of U.S. stores as it deals with weak consumer spending, according to the CEO of its parent company.
CEO Tim Wentworth of Walgreens Boots Alliance, which owns both pharmacy chains Walgreens in the U.S. and Boots in the U.K., told the Wall Street Journal this week that the company is planning to close a substantial number of poorly performing U.S. stores.
A final number of store closures has not yet been decided, Wentworth added, but said the company is reviewing about a quarter of its stores that aren’t profitable and could shutter a "meaningful percent" of those over the next few years, according to the outlet.