Walgreens plans to close many stores during big business changes.
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Walgreens, a big store chain, is making a plan to close many stores in the next few years. The CEO said they might close about 2,100 stores because they are not doing well.
Walgreens has already closed 2,000 stores in the past 10 years, and they have about 12,500 stores left. The CEO said the way they sell medicine now is not working, and they need to change.
Other drugstores like CVS and Rite Aid are also closing stores because people are not buying as much. People are buying more from cheaper stores like Walmart and Amazon.
Walgreens is also closing some of its clinics that were inside its stores. These clinics were losing money, but the CEO said they are getting better now.
Walgreens also said that it did not make as much money as they thought they would. The company's stock price went down a lot because of this news.
Questions
How many stores does Walgreens plan to close?
Walgreens plans to close about 2,100 stores.
Why are other drugstores like CVS and Rite Aid closing stores?
They are closing stores because people are not buying as much.
What happened to Walgreens' stock price?
The company's stock price went down a lot.
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