Walgreens Closing 200 Stores … But Opening 200 Others

Walgreens Boots Alliance said Thursday it will close about 200 less-profitable U.S. Walgreens stores and open the same number of stores in new locations. A spokesman told the Chicago Tribune on Thursday that the stores will close during the next three years, with the last closing no later than the end of 2017. The list of stores slated to close is still being finalized. The closings, announced along with quarterly earnings on Thursday, will expand a three-year, $1 billion cost-reduction plan announced last August. The company now plans to cut $1.5 billion by the end of 2017.