Walgreens Boots Alliance Inc. CEO Tim Wentworth said on Thursday that the company plans to close around 8,600 stores in the United States, although the final decision on the total number has not been made yet. He told the Wall Street Journal that the company intends to close a "meaningful percent" of its unprofitable locations in the next few years but stressed that most affected employees will be reassigned.
The pharmacy chain released its earnings report for the third quarter today, with its revenue rising 2.6% year-on-year and income jumping 192%. However, it revised down its guidance for 2024, expecting earnings per share between $2.80 and $2.95 "reflecting challenging pharmacy industry trends and a worse-than-expected US consumer environment."
