Walgreens Plans to Close 1200 Stores

Walgreens, which operates about 8,500 stores in the United States, will close about 1,200 locations over the next three years.

The drugstore chain has reported a $3 billion quarterly loss. About 500 store closures will come in the current fiscal year.

The closures represent about 12% of all Walgreens stores. They say that 1 in 4 stores are not profitable.

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