Walgreens is closing 450 locations | CNN Business

The pharmacy chain reported lower earnings on Tuesday compared to the same quarter last year – $118 million, or 14 cents a share, compared to $289 million, or 33 cents a share, a year ago. The company is facing muted consumer spending and a pullback in demand for Covid vaccines. CEO Rosalind Brewer said the company was increasing its cost-savings efforts to $4.1 billion and “taking immediate actions to optimize profitability for our US healthcare segment.

The chain operates almost 9,000 stores in the United States and expects to close the 150 US locations by the end of its next fiscal year, Aug 31, 2024, a spokesperson said. Kehoe said the company also eliminated more than 500 roles, or around 10% of its corporate and US office support workforce. Technology and its plans to build the “pharmacy of the future” will further drive savings, he said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Walgreens is closing 450 locationsWalgreens expects to close 150 locations in the United States and 300 locations in the United Kingdom, Walgreens Boots Alliance CFO James Kehoe said in the company's earnings call this week.
Source: cnni - 🏆 326. / 59 Read more »

Walgreens plans to close 150 U.S. locationsPharmacy store chain Walgreens plans to shut 150 store locations across the United States by the end of August 2024, the company announced this week.
Source: clevelanddotcom - 🏆 301. / 63 Read more »

Walgreens expects to close 150 U.S. storesIn addition, the company expects to close 300 stores in the United Kingdom.
Source: PennLive - 🏆 463. / 53 Read more »