Find in the news:
BY COUNTRY

Walgreens plans to close about 200 U.S. stores



Walgreens to close about 200 stores as part of new $500 million cost-savings plan.


Walgreens


Walgreens Boots Alliance on Thursday reported quarterly earnings for the first time since the December 2014 merger of Walgreen Co. and Alliance Boots GmbH. The announcement included the news that the drug store retailer will close about 200 U.S. stores as part of its previously announced three-year, $1 billion cost-reduction plan.


The closings translate to roughly 2% of the 8,232 drugstores Walgreens operates in the United States, Puerto Rico and the U.S. Virgin Islands. (The list of stores to be shuttered, as well as their closing dates, has yet to be finalized, according to the Chicago Tribune.)


In addition to the store closings, the company said it plans to reorganize corporate and field operations and streamline its information technology and other functions, resulting in a “faster and more agile” company.  Together, the actions are expected to add another $500 million in savings to Walgreens Boots’ cost-cutting plan. The company expects to book pre-tax charges for the restructuring of between $1.6 billion and $1.8 billion in regards to the program.


Net sales for Walgreens Boots in the second quarter, ended Feb. 28, increased 35.5% to $26.6 billion compared with the same quarter a year ago, largely due to the inclusion of Alliance Boots for January and February.


Net sales in the first six months of fiscal 2015 increased 21.6% to $46.1 billion compared to the year-ago period.


The company earned $2.04 billion in the quarter, compared with earnings of $716 million a year ago.


“This quarter marked a solid start for our new company, and I remain as optimistic as ever about our long-term future," stated Stefano Pessina, executive vice chairman and acting CEO, Walgreens Boots Alliance. "At the same time, we understand the work that is needed to proactively address headwinds such as reimbursement pressure and competition."
 
Walgreens Boots also announced that its board is progressing in its search for a permanent CEO as its search committee works with a top executive recruiting firm.


“While we work through this process in a deliberate and methodical manner to fill such a critical role, we are making the necessary business decisions to move us forward and will continue to do so while we find the right candidate,” said executive chairman Jim Skinner.

Related shopping malls and stores:

More about shopping malls in the USA



Mar 24, 2024, China:
Apple's newest store in Shanghai opened on March 21.
Dec 25, 2023, United Kingdom:
Nestled in the historic heart of London and renowned for its Georgian-era architectural splendor.
Dec 25, 2023, USA:
The company emphasized that cost-cutting is a pivotal focus for its future endeavors.
Dec 22, 2023, United Kingdom:
The sports giant has joined a long list of international brands that will open their store doors at Trinity Leeds shopping center.
Dec 22, 2023, Austria:
The brand will present at iconic locations such as Cortina d'Ampezzo in Italy, Zermatt in Switzerland, and Hochzillertal-Kaltenbach in Austria.
Dec 21, 2023, USA:
Italian fashion house has sealed a deal to acquire the building housing its flagship store.
Friend
and Follow
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
South Coast Plaza GLA:2 800 000 SF
ADDRESS: 3333 Bristol St, Costa Mesa, CA 92626
USA . Los Angeles
South Coast Plaza
Westfield Garden State Plaza GLA:2 118 718 SF
ADDRESS: 1 Garden State Plaza, Paramus, NJ 07652


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us