Popular drugstore closing down multiple locations
A popular drugstore is planning on closing down some of their unprofitable locations.
According to WQAD, Walgreens plans to close 76 of their stores by August 2014.
The Walgreen Chief Executive Greg Wasson announced the closings during their discussion of the company’s second-quarter 2014 financial results.
Currently Walgreens operates more than 8,600 drugstores.
The store closures will affect less than one percent of all Walgreens’ locations.
No word yet on which locations will be closed, but according to reports, most of the closings were planned for locations where real estate values have declined dramatically or where another Walgreens store opened near by.
Although Walgreens is closing 76 stores, employees will not have to worry about losing their jobs.
According to reports, employees affected by the closings will be reassigned.