Walgreens Boots Alliance to downsize, close/reposition 25% of retail locations, aiming for $1bn savings amid significant financial challenges.
Walgreens Boots Alliance (WBA) is set to downsize and restructure over the next three years amid significant financial challenges, including a 76% stock decline and 92% drop in quarterly operating income. The company plans to close or reposition 25% of its retail locations, aiming for $1 billion in savings. With $33.6 billion in debt, Walgreens faces risks of bankruptcy and is not recommended as a viable investment until operational improvements are evident.
September 15, 2024
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