(PM.) Walgreens will be closing over 2,000 stores in the US after it has been hit by inflationand customers cutting down on spending habits. The pharmacy and convenience store chain is looking to turn around its business.
“Changes are imminent,” Wentworth said of the oncoming closures, however, he added, “There’s not one exact number.” The CEO added that Walgreens will be shutting down stores that are underperforming, but that some locations could be shifted up in their profits as well. With high prices and inflation consumers have been “increasingly selective and price sensitive on their selections.” About a month ago, Walgreens cut the prices on 1,300 products to keep up with price drops as the economy showed signs of slowing down along with other retailers.
