Walgreens closes stores in NY, New Jersey, Texas, – Business News
Walgreens has shuttered stores throughout at the very least a dozen states, together with New York and New Jersey, as half of a multiyear plan to cut prices and close underperforming areas.
The Chicago-based pharmacy chain first introduced plans in October 2024 to close roughly 1,200 underperforming stores over the subsequent three years – together with 500 areas in 2025 alone – in an effort to slash $1 billion in prices.
But final yr, after the company went personal following an acquisition by private-equity firm Sycamore Partners, it pared back these plans and now expects to close fewer than 100 stores this yr, in line with Inc.com.
Walgreens has shuttered stores throughout at the very least a dozen states, together with New York and New Jersey. Paul Martinka
So far this yr, Walgreens has shuttered more than a dozen areas throughout California, Florida, Illinois, Missouri, South Carolina, Texas, Virginia, Washington State, Washington, DC, and Wisconsin, in addition to two in New Jersey’s Bergen County and one in Brooklyn.
Even with the closures, Walgreens – which boasts roughly 8,500 stores nationwide – continues to be the nation’s second-largest pharmacy chain.
What must you do in case your store closes?
Walgreens has stated that clients of impacted stores don’t need to take any motion to switch their prescriptions to a different location, since all its pharmacies nationwide have entry to clients’ prescription, insurance coverage and medicine data.
Customers are in a position to refill their prescriptions at one other Walgreens location or choose prescription supply choices.
Affected clients might be eligible for 90 days of free prescription supply service following the closures, the company stated.
Why is Walgreens closing stores?
The pharmacy giant’s multiyear downsizing effort is an attempt to give attention to its most profitable areas and increase revenue.
Walgreens has shuttered more than a dozen areas to this point this yr. Matt Marton
In 2024, when the company introduced the plan, Walgreens execs informed analysts that one in 4 of its stores are unprofitable.
Walgreens has been hit exhausting by weaker retail gross sales and low drug reimbursement charges, which is the quantity of money that pharmacies are paid for dishing out prescription drugs to sufferers.
As the company shutters areas, it’s specializing in stores with expiring leases, underperforming gross sales and ongoing theft issues.
Walgreens didn’t instantly reply to The Post’s request for remark.
