Pharmacy chain Walgreens Boots Alliance (WBA) has announced plans to shut 450 stores worldwide to reduce costs as the company struggles with poor financial performance.
As part of the cost-cutting measures being implemented at the company, Walgreens is looking to “optimize our locations and opening hours, and expect to close an additional 300 locations in the UK and 150 locations in the U.S,” James Kehoe, Walgreens’ chief financial officer, said during a Q3 earnings call on June 27. Walgreens operates around 9,000 stores in the United States. The company has not revealed the locations of the stores it intends to shut down.
