Walgreens to shut 1,200 stores as one-fourth of locations unprofitable | US News [Video]

The pharmacy chain Walgreens is set to shutter 1,200 of its stores in the US because one-fourth of its locations are not turning a profit.

Roughly 500 locations will close by the end of August 2025, and the other 700 will shut their doors within three years, the struggling chain’s owner, Walgreens Boots Alliance, announced on Tuesday.

The Chicago-based drugstore chain currently has about 8,700 stores across the country. By 2027, one in seven of them will be out of business.

Walgreens has not disclosed which stores will close.

The decision is part of its effort to cut $1billion in costs.

‘This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term,’ stated Tim Wentworth, who assumed the role of Walgreens CEO last year.

Walgreens shares hiked up over 13% to $10.20 after markets opened on Tuesday.

Wentworth told analysts that most …