In addition, the company expects to close 300 stores in the United Kingdom.
FILE - The Walgreens logo on the front of a store, July 14, 2021, in Cambridge, Mass. The company expects to close 150 locations in the United States and 300 locations in the United Kingdom, James Kehoe, chief financial officer of Walgreens Boots Alliance, said on an earnings call. The company didn’t say specifically which locations will be closing or when the store are expected to close.
The closings are part of cost savings move that the company is taking. The company said it recently completed an organization restructuring, which included transforming its headquarters and the elimination of more than 500 positions, representing around 10% of its corporate and U.S. support office workforce.While a lower demand for COVID-related services and a weaker respiratory season is good news for the public, it has impacted revenue for Walgreens.
Earnings fell for Walgreens in the third quarter to $118 million compared to earnings of $289 million in the same quarter a year ago.If you purchase a product or register for an account through one of the links on our site, we may receive compensation. By browsing this site, we may share your information with our social media partners in accordance with our
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