In 2024 the pharmacy chain Walgreens announced it will be closing 1,200 unprofitable stores around the U.S., with some 500 of those closures set for the 2025 financial year.
Newsweek has reached out to Walgreens via email for comment.
Why It Matters
Walgreens, which operates about 8,500 stores in the U.S., faces mounting challenges—including tighter reimbursement rates for prescriptions and increased operational costs.
A sign posted on the exterior of a Walgreens store on October 15, 2024 in Mill Valley, California. A sign posted on the exterior of a Walgreens store on October 15, 2024 in Mill Valley, California. JUSTIN SULLIVAN/Getty Images
The company is facing intensified competition from online retail giants like Amazon, as well as traditional competitors including Walmart and Target. Rival CVS Health Corp is planning to close 900 stores over the next three years, while Rite Aid Corp recently emerged from bankruptcy after reducing its store count to some 1,300 locations.
What To Know
Walgreens has announced plans to close approximately 1,200 stores over the next three years, with 500 closures scheduled for fiscal year 2025.
While a comprehensive list of all affected locations has not been released, several specific closures have been reported:
San Francisco, California: Twelve stores are set to close between February 24 and 27, 2025. Locations include:
1201 Taraval Street
3201 Divisadero Street
1363 Divisadero Street
825 Market Street
1750 Noriega Street
5280 Geary Boulevard
1524 Polk Stree
1301 Franklin Street
1189 Potrero Avenue
135 Powell Street
1630 Ocean Avenue
5300 3rd Street
Chicago, Illinois: Five stores are scheduled to close between February 17 and 27. Stores are located at:
7111 S Western Ave
3405 S King Dr
9148 S Commercial Ave
1554 E 55th St
4745 N Harlem Ave
Rockford, Illinois: one store is set to close on February 19. The store is located at:
Augusta, Georgia: One store is set to close on February 20. The store is located at:
Washington Road and Bobby Jones Expressway
Oakland, California: Two stores are closing, one on February 24, and one on February 27. The stores are located at:
301 E 18th Street
5055 Telegraph Avenue
Walgreens reported a net loss in excess of $3 billion for the final quarter of 2024, and attributed the decline to weaker retail and pharmacy performance, as well as charges related to opioid litigation settlements and an equity investment in China.
What People Are Saying
Walgreens CEO Tim Wentworth said in a statement released in October that the company’s turnaround “will take time, but we are confident it will yield significant financial and consumer benefits over the long term.”
What’s Next
The full list of store closures will continue to be made public through the remainder of the current financial year.
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