{"id":6681,"date":"2026-05-04T19:33:33","date_gmt":"2026-05-04T19:33:33","guid":{"rendered":"https:\/\/storypulls.com\/?p=6681"},"modified":"2026-05-04T19:33:33","modified_gmt":"2026-05-04T19:33:33","slug":"popular-pharmacy-announces-decision-to-close-approximately-1300-locations","status":"publish","type":"post","link":"https:\/\/storypulls.com\/?p=6681","title":{"rendered":"Popular Pharmacy Announces Decision To Close Approximately 1300 Locations"},"content":{"rendered":"<p data-start=\"41\" data-end=\"400\"><span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Walgreens<\/span><\/span> will shut down about 1,300 stores by 2027, including 500 in the next year, as it struggles with online competition and declining prescription payments. The closures mark a major expansion of earlier plans announced under CEO <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Tim Wentworth<\/span><\/span>, who had initially targeted 300 underperforming locations.<\/p>\n<p data-start=\"402\" data-end=\"677\">Despite a 6% rise in quarterly revenue, Walgreens reported a $3 billion loss tied to writedowns involving a Chinese pharmaceutical chain and <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">CareCentrix<\/span><\/span>. Around 25% of its stores are currently unprofitable, highlighting deeper structural challenges.<\/p>\n<p data-start=\"679\" data-end=\"1020\">The broader pharmacy sector is under pressure. Rivals like <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">CVS Health<\/span><\/span> and <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Rite Aid<\/span><\/span> are also facing shrinking margins as reimbursement rates fall and competition from <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Amazon<\/span><\/span> intensifies. CVS, for example, recently announced 2,900 job cuts to reduce costs.<\/p>\n<p data-start=\"1022\" data-end=\"1271\">At the same time, Walgreens is losing retail ground to chains like <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Target<\/span><\/span> and <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Dollar General<\/span><\/span>, especially in everyday goods. To stay competitive, it has already lowered prices on over 1,000 items.<\/p>\n<p data-start=\"1273\" data-end=\"1427\" data-is-last-node=\"\" data-is-only-node=\"\">While its stock rose slightly in premarket trading, Walgreens shares are still down nearly 70% this year, reflecting ongoing uncertainty about its future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walgreens will shut down about 1,300 stores by 2027, including 500 in the next year, as it struggles with online competition and declining prescription payments. The closures mark a major expansion of earlier plans announced under CEO Tim Wentworth, who had initially targeted 300 underperforming locations. Despite a 6% rise in quarterly revenue, Walgreens reported &hellip;<\/p>\n","protected":false},"author":1,"featured_media":6682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/storypulls.com\/index.php?rest_route=\/wp\/v2\/posts\/6681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/storypulls.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/storypulls.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/storypulls.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/storypulls.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6681"}],"version-history":[{"count":1,"href":"https:\/\/storypulls.com\/index.php?rest_route=\/wp\/v2\/posts\/6681\/revisions"}],"predecessor-version":[{"id":6683,"href":"https:\/\/storypulls.com\/index.php?rest_route=\/wp\/v2\/posts\/6681\/revisions\/6683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/storypulls.com\/index.php?rest_route=\/wp\/v2\/media\/6682"}],"wp:attachment":[{"href":"https:\/\/storypulls.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/storypulls.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/storypulls.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}