Walgreens is closing five more retail pharmacy stores in Southern California due to increased regulatory and reimbursement pressures. The company cited these pressures as impacting its ability to cover rent, staffing, and supply costs. This follows news of a dozen Walgreens stores in San Francisco facing closure later this month, and aligns with Walgreens' 'footprint optimization program' launched last year, which aims to shed about 1,200 locations over three years.
A handful of Walgreens retail pharmacy stores in Southern California are expected to close permanently. The company plans to shut down five locations in Whittier, Los Angeles, Orange, Placentia and Stanton in late March, Walgreens confirmed to FOX Business ."Increased regulatory and reimbursement pressures" impacting the "ability to cover" rent, staffing and supply costs played into the pharmacy store chain’s decision to shutter the locations, Walgreens said in a statement.
A total of roughly 500 will shutter in fiscal 2025, the company said at the time.CEO Tim Wentworth said during the company’s first-quarter earnings call last month that the "cornerstone of our turnaround is stabilizing the U.S. retail pharmacy business" and that Walgreens "showed progress across several key planks of this plan," including its footprint optimization program. He said the company "expect our future footprint to support stronger performance.
RETAIL CLOSURES WALGREENS PHARMACY CALIFORNIA
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mudflows Close Pacific Coast Highway as Southern California Braces for Ash RunoffMultiple locations in Southern California experienced mudflows and heavy snow as a result of recent rainfall. The Pacific Coast Highway was closed in Los Angeles County due to mudslides triggered by the downpour. Authorities are concerned about the potential for toxic ash runoff from areas scorched by wildfires.
Read more »
Southern California wildfires show just how destructive the ‘California Way’ can beOnly when competence and reasonableness rule the day in policymaking will anything change.
Read more »
Wildfire Scars Run Deep: Survivors in Central California Relive Trauma as Southern California BurnsThe devastating wildfires raging in Southern California are stirring up painful memories for wildfire survivors in Central California, who are experiencing a resurgence of fear and anxiety as they witness the unfolding tragedy. The images of destruction and the familiar sight of flames and smoke are triggering PTSD symptoms for many, bringing back the terror and uncertainty of their own evacuation experiences.
Read more »
Alert California cameras become a staple of fire protection as blazes hit Southern CaliforniaThe artificial intelligence behind Alert California is interpreting camera footage so firefighters can predict how a column of smoke will grow into a wildfire.
Read more »
Walgreens to Permanently Close 12 San Francisco StoresWalgreens will be shutting down 12 of its San Francisco locations in late February, citing increased regulatory and reimbursement pressures as the primary reason. This move is part of a larger initiative to optimize the company's retail pharmacy footprint, which involves closing approximately 1,200 stores over a three-year period.
Read more »
Two More Walgreens in Oakland Set to Close Amid National TrendWalgreens is closing more stores in the Bay Area, including two locations in Oakland, citing financial pressures. The closures come as part of a nationwide trend of drugstore closures, driven by factors such as reimbursement pressures and increased operating costs.
Read more »