A surge of store closures is anticipated in the US in 2025, with an estimated 15,000 locations shutting down across the country. Among the affected retailers is Walgreens, which has announced plans to close 500 stores by 2025 as part of a broader strategy to shutter 1,200 underperforming outlets.
This comes as drugstore chains , including Walgreens, struggle to cope with economic pressures affecting major retailers like Macy’s , Forever21, Kohl’s, and Dollar General.
Walgreens has disclosed that approximately a quarter of its 8,700 US-based stores are not generating profits. The company will proceed with the closures, despite exceeding Wall Street’s expectations for its fiscal fourth-quarter and full-year earnings.
According to CEO Tim Wentworth, the company is undergoing a “turnaround” process that will “take time” but is expected to yield considerable financial and consumer benefits in the long term…