This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Walgreens to shut 1,200 shops as a part of turnaround effort
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Markets > Walgreens to shut 1,200 shops as a part of turnaround effort
Markets

Walgreens to shut 1,200 shops as a part of turnaround effort

Editorial Board Published October 15, 2024
Share
Walgreens to shut 1,200 shops as a part of turnaround effort
SHARE

Try what’s clicking on FoxBusiness.com.

Walgreens plans to shut no less than 1,200 shops over the subsequent three years because the pharmacy big seeks to scale back prices and switch round operations below a brand new chief. 

One of many largest drugstore chains within the nation, Walgreens mentioned it was concentrating on 900 to 1,000 shops primarily throughout the U.S. by the tip of fiscal 12 months 2027, which is a part of the corporate’s “multi-year footprint optimization program.” About 500 shops are slated to shut as early as fiscal 12 months 2025.

WALGREENS TO PAY $106.8M OVER CLAIMS IT BILLED GOVERNMENT FOR PRESCRIPTIONS NEVER DISPENSED

In June, the corporate had introduced its intention to shut a “significant” variety of underperforming shops throughout the U.S. because it contended with profitability challenges and declining margins. However CEO Tim Wentworth, who took over in October 2023, did not give an estimate on the time of what number of shops could be affected. He famous {that a} “meaningful percent” of the underperforming places would shutter. 

Wentworth mentioned in June that there’s a “difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins.”

Individuals make their means close to a Walgreens pharmacy in New York Metropolis. (Leonardo Munoz/VIEWpress / Getty Photos)

WALGREENS CUTTING PRICES ON 1,300 PRODUCTS

In its newest earnings report on Tuesday, Wentworth mentioned that the corporate’s fiscal fourth-quarter and full-year outcomes “reflected our disciplined execution on cost management.” 

Walgreens

A pharmacist works at a pc station at a Walgreens retailer in Oak Park, Illinois. (Daniel Acker/Bloomberg by way of Getty Photos / Getty Photos)

Walgreens reported income of $37.55 billion for the fiscal fourth quarter, up 6% from the identical interval a 12 months in the past and beating Wall Avenue estimates of $35.75 billion. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The corporate additionally reported a web lack of $3 billion, or $3.48 per share, for the quarter. 

Shares of Walgreens Enhance Alliance rose greater than 4% in premarket buying and selling on Tuesday.

Ticker Safety Final Change Change % WBA WALGREENS BOOTS ALLIANCE INC. 9.00 -0.21
-2.28%

In fiscal 2025, Wentworth mentioned Walgreens plans to focus “on stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow, and continuing to address reimbursement models to support dispensing margins and preserve patient access for the future.” 

TAGGED:closeEffortpartstoresturnaroundWalgreens
Share This Article
Twitter Email Copy Link Print
Previous Article IoTerop Actively Searching for a Purchaser IoTerop Actively Searching for a Purchaser
Next Article Senate majority susceptible to falling out of attain for Democrats Senate majority susceptible to falling out of attain for Democrats

Editor's Pick

You Can Get a Mac Desktop for Much less Than 0 As we speak

You Can Get a Mac Desktop for Much less Than $500 As we speak

Available in the market for a brand new macOS-based desktop, however do not have a whole lot of house to…

By Editorial Board 3 Min Read
Which iPhone Ought to You Purchase (or Keep away from) Proper Now?
Which iPhone Ought to You Purchase (or Keep away from) Proper Now?

What's New in iOS 26?{Photograph}: Julian ChokkattuWait, what occurred to iOS 19?…

16 Min Read
If You have Acquired the Proper Rig, Examine Out This Sale on Samsung’s 4K Gaming Monitor
If You have Acquired the Proper Rig, Examine Out This Sale on Samsung’s 4K Gaming Monitor

In search of a formidable gaming monitor to match your highly effective…

3 Min Read

Oponion

Shares soar, DOGE will get to work and Walmart talks tariffs

Shares soar, DOGE will get to work and Walmart talks tariffs

‘The Claman Countdown’ host Liz Claman stories on the crypto…

November 23, 2024

Apple’s iPhone 14 Satellite Connection Is Live. Hopefully You Won’t Use It.

TechPersonal TechPersonal Technology: Joanna SternIf you’re…

November 15, 2022

49ers will begin third totally different quarterback this season in Sunday finale at Arizona

SANTA CLARA — Josh Dobbs will…

January 1, 2025

Roku Shares Tumble as Company Warns of Tough Holiday Season

BusinessMedia & MarketingBig advertisers ‘aren’t spending…

November 2, 2022

10 Greatest Fall Colognes for Males To Really feel Cozy in 2024 | Fashion

We independently consider all really helpful…

November 22, 2024

You Might Also Like

SEC chair needs personal market investments accessible for Individuals’ 401(ok) plans
Markets

SEC chair needs personal market investments accessible for Individuals’ 401(ok) plans

SEC Chairman Paul Atkins tells ‘Mornings with Maria’ that President Donald Trump’s push to finish quarterly earnings stories is a…

6 Min Read
Ford to maneuver world headquarters for first time in practically 70 years
Markets

Ford to maneuver world headquarters for first time in practically 70 years

Ford CEO Jim Farley joined ‘Varney & Co.’ to clarify why pushing again Ford’s electrical pickup and van to 2028…

4 Min Read
New Apple iPhone 17 goes on sale worldwide
Markets

New Apple iPhone 17 goes on sale worldwide

'My View' host Lara Trump weighs in Apple's plan to take a position $100 billion in U.S. manufacturing on 'The…

4 Min Read
Fox-owned Credible promotes Robert Humann to CEO position
Markets

Fox-owned Credible promotes Robert Humann to CEO position

Robert Humann will develop into the following CEO of Credible, the patron finance expertise platform owned by Fox Company, the…

2 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?