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Walgreens Announces It’s Closing 200 Pharmacies

Part of program to cut costs in changing industry

According to a Bloomberg report, 200 U.S. pharmacies are scheduled to close as part of a cost-saving plan by Walgreens Boots Alliance Inc. to overhaul parts of its retail footprint and technology. The Deerfield-based company operated 9,560 stores, as of August 2018, and has already announced at least 750 store closings previous to this.

Walgreens stated in a security filing Tuesday that the cost-reduction plans will result in charges of $1.9 billion to $2.4 billion. Company shares fell 0.5% after market closure in New York, bringing it to a loss of 25% so far in 2019.

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