Walgreens Closing 150 Stores!
Heads up! You're local store may be part of the Walgreens store closings!
Walgreens Store Closings!
Walgreens has announced plans to close at least 150 stores by August 2024. No list of locations to be closed have been released yet but we'll keep you updated. There are 9,000 stores so that's roughly 1.7% that will be closing.
Walgreens earnings are down 59% from 2022 and store closings are only a part of their cost-saving measures to increase profits. The company will also end stimulus funds and the resumption of student loan payments! Walgreens expects to save $3.3 billion by the end of 2023 and another $800,000 in 2024.
If you live near a closing store, don't get excited about “going out of business” sales. All the inventory will be moved around to all the other stores.
There are other store closings on the horizon:
1.) Best Buy – closing 30 stores
2.) Big Lots – closing 7 stores in Colorado and California
3.) Burger King – closing 400 stores
4.) Champs Sports – closing 125 stores
5.) Foot Locker – closing 420 mall-based stores
6.) Journey's – closing 100 stores
7.) Tuesday Morning – closing ALL stores by this summer!
8.) Walmart – closing 22 stores across 12 states and Washington DC.
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