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Walgreens Announces Closure of Multiple Stores in NJ
On Wednesday, Walgreens made the announcement that it is wrapping up a "significant multiyear footprint optimization program" to shut underperforming Walgreens locations nationwide. This following the publication of the business's third-quarter financial report.
In New Jersey, there are more than 180 Walgreens locations.
Tim Wentworth, CEO of WBA, stated in the company's third quarter results report that "we continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics, which have eroded pharmacy margins." "Our results and outlook reflect these headwinds, despite solid performance in both our International and U.S. Healthcare segments."
Walgreens stated that it would be a "significant multi-year" initiative, but it did not say which of its 8,700 stores—including the 192 it operates in New Jersey—would be closing.
