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Walgreens expects to close 150 US stores, CFO says

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The store closings are expected to happen by 2024 in a cost-saving effort by the company.

Walgreens says it expects toWalgreens Boots Alliance CFO James Kehoe announced the closings during the pharmacy company’s earnings call on June 27.

The Chicago-based company, which operates 9,000 stores in the U.S., is expected to close the 150 locations on Aug. 31, 2024, the end of its next fiscal year, CNN noted.

 

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Walgreens to close 150 stores across the U.S. as pharmacy chain faces 'emerging challenges'Store closings are just some of the company's cost-saving measures, which come as Walgreens reported net income of $118 million, about 59% below the previous year, and failed to meet earnings expectations. The closings are to occur before May 2024.
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