A Wilmington Walgreens will close this fall, one of more than a thousand locations slated to close nationwide over the next three years.
Walgreens plans to close around 1,200 stores across the United States, including 500 in fiscal year 2025, the company announced Tuesday in an earnings report . The company had confirmed plans in June to close unprofitable stores, but had not disclosed how many locations would be affected.
Walgreens is part of a wave of pharmacy closures across the United States, as both independent and chain pharmacies struggle to earn profits. CVS and Rite Aid have each also announced hundreds of closures nationwide. The new figures Tuesday mean that one in seven Walgreens locations are expected to close nationwide, as part of a belt-tightening effort by new CEO Tim Wentworth.
“This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term,” Wentworth said in a statement to stockholders Tuesday.