{"id":2284761,"date":"2024-06-27T16:14:02","date_gmt":"2024-06-27T20:14:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walgreens-latest-company-to-announce-store-closures-washington-examiner\/"},"modified":"2024-06-27T16:16:34","modified_gmt":"2024-06-27T20:16:34","slug":"walgreens-latest-company-to-announce-store-closures-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/walgreens-latest-company-to-announce-store-closures-washington-examiner\/","title":{"rendered":"Walgreens latest company to announce store closures &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwalgreens-latest-company-to-announce-store-closures-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2284761&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Walgreens \u200dPharmacy has \u200bannounced plans to close a significant number of its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/drug-retailer-rite-aid-files-for-bankruptcy-amid-rising-debt-opioid-litigation\/\" title=\"Rite Aid, drug retailer, declares bankruptcy due to mounting debt and opioid lawsuits.\">underperforming stores<\/a>. The decision, revealed by Walgreens Boots Alliance CEO Tim Wentworth, involves considering \u200cthe closure of about 25% of its 8,600 locations across the U.S., particularly focusing on unprofitable stores. Wentworth described the company&#8217;s current state as a &#8220;turnaround&#8221; situation, indicating a strategic \u2062shift to improve efficiency and profitability.\u2064 The\u2064 exact number of store closures has not\u2064 been specified.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_79\">\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/walgreens\/\" target=\"_blank\" rel=\"noopener\" title>Walgreens<\/a> Pharmacy announced it would shut down numerous underperforming stores.<\/p>\n<p>The drug store chain\u2019s plan to reshape its footprint was revealed on Thursday when Walgreens Boots Alliance CEO Tim Wentworth stated that the company would close a \u201cmeaningful percent\u201d of its <a href=\"https:\/\/www.wsj.com\/health\/walgreens-plans-major-u-s-store-closures-0b04a96e?mod=hp_lead_pos10\" target=\"_blank\" rel=\"noopener\" title>8,600 locations<\/a>. It is unknown how many closures will occur with this shake-up, though Wentworth said the company is reviewing around 25% of its <a href=\"https:\/\/www.washingtonexaminer.com\/section\/policy\/finance-and-economy\/\" target=\"_blank\" rel=\"noopener\" title>unprofitable<\/a> stores. <\/p>\n<p>\u201cWe recognize where we are is a turnaround,\u201d Wentworth said. \u201cWe recognize that we need to be focused on what are the parts of the business that we believe are contributing and have a future, and some of those need to change.\u201d<\/p>\n<figure><figcaption>A Walgreens store in Bradenton, Florida, is shown on Feb. 9, 2024. (AP Photo\/Gene J. Puskar)<\/figcaption><\/figure>\n<p>Wentworth added that stores dealing with theft are also being looked at, citing a desire for \u201cinvesting in public safety\u201d for employees and customers. He also clarified most employees would be offered a job at another location.<\/p>\n<p>The news of Walgreens\u2019s shake-up has tanked shares for the Walgreens Boots Alliance, which cost around <a href=\"https:\/\/www.marketwatch.com\/investing\/stock\/wba\" target=\"_blank\" rel=\"noopener\" title>$11.71 per share at 2 p.m.<\/a> Eastern on Thursday. A day earlier at the same time, shares cost about $15.61 per share.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Walgreens\u2019s intention to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stop-shop-grocery-chain-seeks-to-close-underperforming-locations\/\" title=\"Stop &#038; Shop aims to shutter 'underperforming' stores\">close underperforming stores<\/a> comes after several restaurant chains have taken similar measures, with the most recent being <a href=\"https:\/\/www.washingtonexaminer.com\/news\/business\/3058433\/hooters-close-restaurants-due-to-market-conditions\/\" target=\"_blank\" rel=\"noopener\" title>Hooters, which is closing about 40 of its locations<\/a>. The locations confirmed to be closed are in South Lakeland, Florida, and Wichita Falls, Texas. <\/p>\n<p>Rubio\u2019s Coastal Grill also announced earlier this month it was <a href=\"https:\/\/www.washingtonexaminer.com\/news\/3029260\/rubios-coastal-grill-cites-california-business-costs-in-closing-almost-50-locations\/\" target=\"_blank\" rel=\"noopener\" title>closing almost 50 locations in California<\/a>. Those closures were made after California <a href=\"https:\/\/www.dir.ca.gov\/dlse\/Fast-Food-Minimum-Wage-FAQ.htm\" target=\"_blank\" rel=\"noopener\" title>mandated a $20 minimum wage<\/a> for \u201cfast-food restaurant employees\u201d under a new law.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walgreens Pharmacy will close several underperforming stores, as part of its strategy to optimize its network. CEO Tim Wentworth of Walgreens Boots Alliance announced the plan to shut down a significant percentage of its 8,600 locations. The exact number of closures remains undisclosed<\/p>\n","protected":false},"author":2632,"featured_media":2284762,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Walgreens-1024x683.webp","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[33085,33086,17434,32076],"class_list":["post-2284761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-company-closures","tag-store-closures","tag-walgreens","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Walgreens-1024x683.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2284761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2632"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2284761"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2284761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2284762"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2284761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2284761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2284761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}