Walgreens cuts 2024 profit forecast, announces store closures
-Walgreens Boots Alliance on Thursday cut its profit forecast for fiscal year 2024 and said it would close more underperforming U.S. stores as weak consumer spending hurts its retail operations.
Walgreens could shutter a"meaningful percent" of the stores being reviewed over the next few years, CEO Tim Wentworth said in an interview to the Wall Street Journal. Walgreens is also aiming to simplify its healthcare portfolio in the country, which includes primary care provider VillageMD.As of February 2024, Walgreens had closed 484 stores in the UK and 625 stores in the U.S., according to a regulatory filing.
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