Walgreens will be closing 200 shops in the US to reduce costs, the pharmacy’s parent firm mentioned in a regulatory filing Tuesday.
The corporate projects the transfer will save more than $1.5 billion by the fiscal year 2022.
In Could, Walgreens Boots Alliance revealed that 200 shops in the United Kingdom had been slated for closure, and stated they’d be reviewing the company’s “actual property footprint” in the United States.
The corporate has greater than 18,500 stores in 11 countries, in response to the Walgreens Boots Alliance.
After June experiences of a 24% decline in quarterly internet revenue, the company’s inventory has plunged virtually 25% this year.