Walgreens closing 1,200 locations. Florida leads US in number of stores; impact unknown

Walgreens has announced it will close about 1,200 stores in the U.S. as it struggles with slumping consumer spending.

The closures will take place within the next three years, starting with 500 stores in fiscal year 2025, Walgreens announced Tuesday, Oct. 15, in an earnings report .

CEO Tim Wentworth said the company is committed to improving its core business, retail pharmacy, as it undergoes a multi-year cost-cutting program.

"This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term," Wentworth said in a statement.

How many stores will Walgreens close?

Walgreens said it will close 1,200 stores, with 500 closing in fiscal 2025. The company said the 1,200 includes 300 stores previously approved under the Transformational Cost Management Program.

The 1,200 closures account for about 13% of the more than 8,700 stores that were open in the U.S. as of Aug. 31 last year. The company operates drugstores in 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

"About 78 percent of the U.S. population lives within five miles of a Walgreens or Duane Reade pharmacy," the company said on its website.

Which stores will Walgreens close?

That has not yet been announced.

In addition to underperforming stores, Wentworth said stores that are too close to each other or experience high rates of theft are at risk of closing.

How many Walgreens are in Florida?

Florida leads the U.S. in the number of Walgreens pharmacies, with 801, according to data company ScrapeHero . The top five states are:

• Florida: 801
• Texas : 749
• Illinois: 547
• California: 540
• North Carolina: 334

See a list of Florida Walgreens locations.

This article originally appeared on Florida Times-Union: Walgreens closing 1,200 locations. Florida leads US in number of stores; impact unknown