Walgreens to close 500 stores before August. Is Oklahoma affected?
Walgreens announced more closures are on the horizon in 2025.
The company planned to close about 1,200 underperforming stores in October to offset declining profits. Most of the lowered profits are the result of low drug reimbursement rates and sluggish retail sales.
About 25% of Walgreens stores were 'not currently contributing to our long-term strategy,' Walgreens Boots Alliance Inc. CEO Timothy Wentworth said in June 2024 during a quarterly financial call.
Here's what to expect for the future of the company.
All of the 1,200 stores will not be closed in 2025. Instead, roughly 500 stores will close in fiscal year 2025, which ends in August 2025, Walgreens said.
In the company's first quarter, from September to November, 70 stores were closed. They plan to close another 450 before the end of 2025.
It is not known if any Oklahoma stores will close currently.
There are 50 Oklahoma cities that have at least one Walgreens, according to their website. Shoppers may contact their local Walgreens to see if it is potentially affected.
Mike Snider, USA TODAY, contributed to this report.
This article originally appeared on Oklahoman: Walgreens to close 500 stores before August. Is Oklahoma affected?
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