By 2027, nearly one in seven of the company’s current locations will close. Over the next year alone, 500 stores are set to shut down, Walgreens announced on Tuesday.
This move marks a sharp escalation from June, when the struggling retailer revealed plans to close 300 underperforming stores as part of a multi-year optimization strategy led by CEO Tim Wentworth. At that time, Walgreens disclosed that roughly 25% of its stores were unprofitable and signaled that significant changes were on the horizon.
