Drugstore chain Walgreens Boots Alliance (WBA) announced plans to close about 200 U.S. stores as part of its first earnings report since it merged with European drug retailer Alliance Boots last year.
Walgreens, the largest U.S. drugstore chain, said it will close the stores amid plans to boost its previously announced cost-cutting initiative by $500 million.
Walgreens now expects to reduce costs by a projected $1.5 billion by the end of fiscal 2017, the company said.
Walgreens Boots Alliance said Thursday it will close about 200 less-profitable U.S. Walgreens stores and open the same number of stores in new locations.
<dunce> List of store closings is not available at this time.