Source: The New York Times
Walgreens plans to close about 1,200 stores over the next three years, its parent company said on Tuesday, in an effort by the struggling pharmacy giant to cut costs and change focus.
The chain, which is owned by Walgreens Boots Alliance, announced the closures in its latest quarterly earnings report, released on Tuesday.
The closures will allow Walgreens to “respond more dynamically to shifts in consumer behavior and buying preferences,” Tim Wentworth, the chief executive of Walgreens Boots Alliance, told investors during an earnings call on Tuesday.
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