"Fiscal 2025 will be an important rebasing year as we advance our strategy to drive value creation," said CEO Tim Wentworth. "This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term."
Walgreens noted that it estimated one-quarter of its stores are currently unprofitable. With 500 store closings happening within the next 12 months, this significant reduction marks a critical point in their strategy.
The wave of pharmacy closures raises concerns, particularly as many of the affected locations are in predominantly Black and Latino neighborhoods, which rely heavily on community pharmacies for support.
Megan Undeberg emphasized the impactful role of local pharmacies: "You're the smoking cessation counselor, you're the suicide prevention counselor. You know just about everything about everyone, but it's confidential."
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