Popular Pharmacy Closing Under Performing Stores in New York?

A big-name pharmacy chain has announced they are planning to close a "significant portion" of its 8,000 stores in the U.S.

Back in June 2023, we told you that Walgreens was planning to close 150 locations in the United States by the end of the following summer (2024) after the company missed profit expectations again.

Walgreens Closing More Stores

One year later it appears that things haven't gotten any better as the company has announced they they are finalizing a plan to fix its struggling business across the country that could result in the closing of hundreds of additional stores over the next three years. Company CEO Tim Wentworth explained its plans for its more than 8,600 drugstores saying that "changes are imminent" for about 25% of the company’s underperforming stores according to AP News.

"We are at a point where the current pharmacy model is not sustainable and the challenges in our operating environment require we approach the market differently."

The company didn't specify which locations could be closing but did say that a “significant portion” of the roughly 2,100 underperforming stores could close if they don’t improve. Walgreens has already closed 2,000 locations over the last 10 years.

Are Walgreens in New York Underperforming?

Many customers have asked if the recent announcement will affect their local New York Walgreens. Unfortunately, it's unclear today, but with New York currently having the 5th most Walgreens locations in the country (475) it's probably safe to say that a few of them might be underperforming. Other states that have the most Walgreens locations include California(540), Illinois (547), Texas (751), and Florida (801) according to Scrape Hero.

SEE ALSO: New York Health Care Provider to Lay-Off Employees

Walgreens currently has numerous locations across the Hudson Valley including stores in Poughkeepsie, Highland, Wappingers Falls, New Paltz, and Newburgh. We stopped into the Wappingers Falls and Highland locations recently and asked if either location would be affected by the restructuring and was told that neither of the two stores had plans to close.

This is a developing story and as more information becomes available we will update this article.