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The Guardian

Walgreens to shut 1,200 US stores with stock trading near 30-year lows

The Guardian on
Walgreens to shut 1,200 US stores with stock trading near 30-year lows



Pharmacy chain operator has been hit by sluggish consumer spending and low drug reimbursement ratesWalgreens Boots Alliance said on Tuesday it would shut 1,200 stores over the next three years as new CEO Tim Wentworth plots a turnaround at the struggling pharmacy chain operator hit by sluggish consumer spending and low drug reimbursement rates.The company also narrowly beat Wall Street’s lowered estimates for fourth-quarter adjusted profit, and forecast fiscal-year earnings that were mostly in line with expectations. Its shares jumped 5.4% to $9.50 in premarket trading. Continue reading…



Source link : https://www.theguardian.com/business/2024/oct/15/walgreens-closing-us-stores

Author : Reuters

Publish date : 2024-10-15 14:09:55

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Tags : The Guardian

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