By Ramishah Maruf
Walgreens expects to close 150 locations in the United States and 300 locations in the United Kingdom, Walgreens Boots Alliance CFO James Kehoe said in the company’s earnings call this week.
The pharmacy chain reported lower earnings on Tuesday compared to the same quarter last year – $118 million, or 14 cents a share, compared to $289 million, or 33 cents a share, a year ago. The company is facing muted consumer spending and a pullback in demand for Covid vaccines.
CEO Rosalind Brewer said the company was increasing its cost-savings efforts to $4.1 billion and “taking immediate actions to optimize profitability for our US healthcare segment.”