Walgreens to Close 76 Unprofitable Stores

Walgreens said it plans to close 76 unprofitable drugstores by August as part of a plan to save $40 million to $50 million per year beginning in its fiscal 2015. The drugstore chain, the nation's largest, declined to specify the locations of the stores slated to close aside from saying they're "spread across the country." Walgreens said it will confirm the closures in the coming months after it notifies employees. Most stores that will close either have had other Walgreens locations open in the same area or have seen real estate values decline since they've opened, the company said.