Walgreens Is Shutting Down Hundreds of Locations, Could They Close QC Stores?
Pharmacy mega-chain Walgreens has announced it's closing 200 stores, reports CNN Business.
Walgreens bought up nearly half of Rite Aid's stores two years ago, bringing their total locations to 9,500.
The chain has recently experienced some setbacks that have lead to the closures.
"Walgreens faces a litany of challenges, including lower prices for generic drugs and a persistent decline in reimbursement rates for medications from state and federal government health care plans. The company revealed in a regulatory filing Tuesday that will take a pre-tax charge of as much as $2.4 billion for the closures."
Walgreens is not yet announcing which stores are on the chopping block, but they claim the closings will cause "minimal disruption" to customers. Employees affected by the closings will be transferred to nearby stores.
Fingers crossed the locations that are closing are not in the QCA.
In contrast with Walgreens, competitor CVS is expecting stronger-than-expected earnings this week and has boosted its full-year outlook.
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