While the retail giant hasn't divulged exact figures, it advised on Thursday of "significant" planned shutdowns for underperforming branches across the nation , as part of an ongoing optimisation strategy set to unfold over several years.
When briefing the Wall Street Journal, CEO Tim Wentworth indicated that the impending store closures bear significant weight , making up a "meaningful percent" of the approximately one-fourth of less profitable locations.
The spotlight during this shake-up will be primarily on non-profitable stores, those located too closely together, or stores struggling with ongoing theft problems, Wentworth elucidated.
Following Walgreens' announcement during the quarterly earnings report, combined with a full-year profit forecast cut there was a nearly 9% plummet in pre-market trading shares.
In addressing the tough business conditions, Wentrought concluded: "We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins," and that "Our results and outlook reflect these headwinds."
Walmart has made more clarifications since this initial report. Any locations that have already closed are not those that were mentioned are being evaluated in the company's Q3 earnings
It said: "Approximately 25% of Walgreens stores are not contributing to our long-term strategy. We’re finalizing an optimization program that we expect will include closing a significant portion of these locations over the next three years. We are also taking a series of actions and making investments to enhance the customer and patient experience."
Which Walgreens stores are closed now?
Permanently closed
606 Walnut St, Des Moines, IA 50309
124 E Main St, Newark, DE 19711
3301 Lancaster Pike, Wilmington, DE 19805
4201 Concord Pike, Wilmington, DE 19803
32979 Coastal Hwy, Bethany Beach, DE 19930
842 E Main St, Danville, IL 61832
210 E Barnett Rd, Medford, OR 97501
1900 Maryland Ave, Wilmington, DE 19805
5602 Pacific Ave, Tacoma, WA 98408
1805 N Brady St, Davenport, IA 52803
4220 Missouri Flat Rd, Placerville, CA 95667
840 El Camino Ave, Sacramento, CA 95815
1400 N Grand Blvd, St. Louis, MO 63106
14048 Woodward Ave, Highland Park, MI
25 Peachtree St, Atlanta, GA 30303
4121 Hoover Ave, Dayton, OH 45402
6199 Sunrise Blvd, Citrus Heights, CA 95610
78 Main St, Westfield, MA 01085
918 Riverview Dr, Kalamazoo, MI 49048
Temporarily closed
5300 N Braeswood Blvd, Houston - front end and pharmacy will reopen
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