The Associated Press just reported that pharmacy and supplies chain Walgreens will be closing almost 200 stores across the United States with plans to cut overall costs. The company said on Tuesday that they want to cut their costs by $1.5 billion within a few years. They also announced closing around 200 of their United Kingdom stores too. Their 24% decline in net income is due in part to the challenges of price increases on branded drugs.
Walgreens has over 18,000 stores worldwide...one of which, that better stay open, is the one down the street from our KMEL offices!