Walgreens, one of the largest U.S. drugstore chains, has announced that it will close about 1,200 U.S. pharmacies over the next three years as part of a wide-ranging plan to stabilize its financial performance. The decision was made after the announcement of quarterly losses.
Writes UNN with reference to VOA.
Approximately one in seven Walgreens stores will close by 2027. Walgreens reported a loss of $3 billion related to the acquisition of a controlling stake in CareCentrix, a Chinese pharmacy chain and home care provider, in 2021.
Quarterly net loss related to opioid litigation settlement and capital investments in China.
At the same time, the company reported a 6% increase in revenue over the last quarter.