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Pharmacy chain Walgreens is aiming for 500 store closures in fiscal 2025 and 1,200 over the next three years, parent company Walgreens Boots Alliance announced Tuesday.
The move is meant to streamline the chain’s operations amid a drop in earnings in fiscal 2024. All the closings will be in the U.S., according to The Associated Press.
Walgreens isn’t the only major drugstore chain in the medical tent. CVS and Rite Aid are also struggling because of falling profits from filling prescriptions and competition from Amazon.
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