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DEERFIELD, Ill. – Walgreens said it plans to shutter more than 100 store locations across the United States, the company announced this week.
The pharmacy store chain will close 150 U.S. locations by the end of August 2024, Walgreens confirmed in a statement to NBC Chicago on Tuesday. Walgreens has not yet announced which stores are targeted for closure. The company added that it will also close 300 stores in the United Kingdom.
The company reported $118 million of net earnings in its fiscal 2023 third quarter earnings report, released June 27, marking a 59% decrease from $289 million in net earnings reported for the same period last year. In addition, Walgreens’ expected full-year adjusted earnings has dropped to between $4 and $4.05 per share, down from a previous forecast of $4.45 to $4.65 per share.
“Our revised guidance takes an appropriately cautious forward view in light of consumer spending uncertainty, while still demonstrating clear drivers of a return to operating growth next fiscal year,” CEO Rosalind Brewer said.“I am confident that our turnaround strategy positions WBA to drive sustainable core growth and deliver long-term shareholder value,” she added.
