Retailers are still facing unfavorable situations, as the negative trend seems to continue.
Walgreens, the renowned pharmacy chain, has recently announced that it will be shutting down approximately 150 of its stores by August 2024. Regrettably, two of the stores in New Jersey have been included in the list and are scheduled to close next month.
In recent times, the business has faced some difficulties.
According to a recent Reuters report, Walgreens is set to reduce its costs by a minimum of $1 billion in 2024 as part of its continuing efforts. These efforts include closing unprofitable stores, after the pharmacy chain predicted a financial year 2024 profit that falls below Wall Street’s projections.
New Jersey stores closing
Next month, two stores will be closing down and patients will receive a communication from Walgreens informing them of the closure. The communication will also include details of the transfer of their prescriptions to another Walgreens location.
- 1301 Black Horse Pike, Glendora. closing November 13
- 4238 Harbor Beach Blvd, Brigantine. Closing November 16
“When faced with the difficult decision to close a location, several factors are taken into account, including our existing footprint of stores, dynamics of the local market, and changes in the buying habits of our patients and customers, among other reasons. As we expand as a leader in healthcare, we are focused on best meeting the needs of patients and customers in communities we serve by creating the right network of stores in the right locations” Walgreens statement
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