Reported about 17 hours ago
Walgreens Boots Alliance announced plans to close 1,200 stores over the next three years as new CEO Tim Wentworth aims to revive the struggling pharmacy chain. The decision comes in response to weak consumer spending and low reimbursement rates, following a year where the company's shares dropped 65%. While the fourth-quarter earnings slightly surpassed expectations, Walgreens is facing significant challenges amid ongoing market pressures. The closure will primarily affect underperforming stores and those with soon-to-expire leases.
Source: YAHOO