Walgreens to close 150 stores in the U.S.
In a recent announcement, Walgreens revealed its plans to close a total of 150 stores in the U.S. and 300 stores in the U.K., as stated by Walgreens Boots Alliance Chief Financial Officer, James Kehoe. This strategic decision is part of the company’s ongoing efforts to streamline operations and reduce costs, which has now received its sixth target increase.

With these closures, Walgreens aims to achieve significant savings, projected to reach at least $800 million in 2024. This will contribute to a cumulative savings of $4.1 billion by that time, according to Kehoe’s remarks to analysts.

In addition to the store closures, the company has recently completed an organizational restructuring initiative. As part of this restructuring, over 500 roles, representing approximately 10% of the corporate and U.S. support office workforce, have been eliminated, as highlighted by Kehoe.

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Buy Buy Baby goes up for auction after Bed Bath & Beyond assets get sold off
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Burger King parent says U.S. turnaround is already improving profits for franchisees
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