Thursday, October 26, 2017

Walgreens to shutter 600 stores by next spring as part of Rite Aid purchase

Image result for walgreens storeWalgreens Boots Alliance expects to shutter about 600 stores in the wake of its purchase of 1,932 stores from rival Rite Aid.

The closings will start next year and take place over 18 months, Walgreens CFO George Fairweather said on the chain’s quarterly earnings call. The stores marked for closing will mostly be Rite Aid locations. The retailer expects to close stores within a mile of another Walgreens or Rite Aid location.
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