Walgreens is planning to close a significant share of U.S. stores, CEO Tim Wentworth of parent company Walgreens Boots Alliance told the Wall Street Journal.
Walgreens is planning to close a significant share of U.S. stores as it deals with weak consumer spending, according to the CEO of its parent company.CEO Tim Wentworth of Walgreens Boots Alliance, which owns both pharmacy chains Walgreens in the U.S. and Boots in the U.K., told the Wall Street Journal this week that the company is planning to close a substantial number of poorly performing U.S. stores.
Walgreens Boots Alliance’s stock WBA, fell 12% early Thursday, after the chain’s fiscal third-quarter profit fell short of estimates, according to Market Watch. "We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins," Wentworth said in a prepared statement.
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