In the wake of $3 billion in losses: Walgreens pharmacy chain to close more than 1,000 stores in the US
Kyiv • UNN
The Walgreens pharmacy chain announced the closure of 1,200 stores in the United States over three years due to financial problems. The company reported a quarterly loss of $3 billion due to acquisitions and litigation.
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.
