Walgreens is closing five stores in Maine
Could more Walgreens stores close in the future?
Yes, more Walgreens stores could close in the future. The company is planning to close up to 25% of its 8,600 stores in the U.S. by 2027. CEO Tim Wentworth said he's closing stores that aren't profitable, and more closures could be announced in the coming years as he continues to evaluate the company's performance6.
When are the Maine store closures scheduled for?
The specific closure dates for the five Walgreens stores in Maine are not mentioned in the provided information. However, the stores are scheduled to close by 2024 as part of Walgreens' plan to shut down up to 25% of its 8,600 stores in the U.S. by 2027.
Why is Walgreens closing stores in Maine?
Walgreens is closing five stores in Maine as part of its plan to shutter up to 25% of its 8,600 U.S. stores by 2027. The company's CEO, Tim Wentworth, stated that underperforming stores are being closed due to a shift in consumer behavior, with more people filling prescriptions online and purchasing pharmacy items like greeting cards and candy5. This is in response to the current pharmacy model's unsustainability and the challenges in the operating environment.