Walgreens plans to close approximately 1,200 unprofitable stores across the U.S. over the next three years, starting with 500 in fiscal year 2025, as part of a turnaround strategy under CEO Tim Wentworth. This decision, affecting about 13% of its locations, comes amid challenges from rising competition and declining drug reimbursement rates, despite a 6% revenue increase last fiscal year. The pharmacy chain reported a $3 billion loss last quarter, highlighting the ongoing struggles within the retail pharmacy sector.
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