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By Suzanne Blake

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Walgreens is closing more than 20 stores this month as the drug store giant looks to boost revenue and shutter underperforming locations.

The closures arrive after Walgreens announced in October it would be closing roughly 1,200 underperforming stores across the U.S. over the next three years. In 2025, 500 locations will say goodbye to shoppers.

Why It Matters

Many retail giants have slimmed down their national footprint in the years following the COVID-19 pandemic. Lower brick-and-mortar demand as a result of online shopping as well as inflationary effects on spending have played a role.

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Malls have long been falling out of favor, with almost 25 percent of America's largest anticipated to close by 2027, according to research from real estate services firm Green Street Advisors.

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What To Know

While Walgreens operates roughly 8,500 stores nationwide, the pharmacy and drug store chain has closed about 2,000 locations over the past decade.

Why is Walgreens Closing Stores?

The closures arriving this month as CEO Tim Wentworth said Walgreens is embarking on a "turnaround plan."

"We are confident it will yield significant financial and consumer benefits over the long term," Wentworth previously said.

Because more consumers are using online prescription services like Amazon.com, pharmacies have felt pressure on their bottom line as costs rise.

In the last quarter of fiscal year 2024, Walgreens reported a $3 billion loss, an increase from $180 million the year before. Only 6,000 of its stores are still profitable, Wentworth said.

"This solid base supports our conviction in a retail pharmacy-led model that is relevant to our consumers, and we intend to invest in these stores over the next several years," he said.

Walgreens had sales of $37.55 billion for the fourth quarter, a year-over-year increase of 6 percent and fourth-quarter sales and adjusted profit above Wall Street expectations, according to CNBC. The $3 billion loss reflects the so-called valuation allowance that is meant to reduce deferred tax assets mainly related to opioid settlements, CNBC reported.

Which Walgreens Locations Are Closing in June?

In June, Walgreens is closing stores across several states, including:

California

• Salinas, N. Sanborn Road – June 25

Florida

• Jacksonville, Dunn Avenue – June 26
• Miami, NW 7th Avenue – June 25

Illinois

• Chicago, N. Sheffield Avenue (Northstar Health Care) – June 23

Massachusetts

• Brockton, Pleasant Street – June 23
• Fall River, S. Main Street – June 26
• Gloucester, Eastern Avenue – June 23
• Springfield, Boston Road – June 24
• Swansea, Wilbur Avenue – June 23
• Webster, Main Street – June 24
• Worcester, Grafton Street – June 25

New Jersey

• Pleasantville, N. Main Street – June 23

New York

• New York City, Lexington Avenue (Duane Reade) – June 24
• Syracuse, Genesee Street – June 26

North Carolina

• Durham, Broad Street – June 24
• Raleigh, Wake Forest Road – June 26

Ohio

• Garfield Heights, Turney Road – June 24
• Reynoldsburg, Brice Road – June 10

Washington

• Bremerton, State Highway 303 NE – June 23

West Virginia

• Clendenin, Elk River Road N. – June 25
• Follansbee, Main Street – June 11
• Mullens, Moran Avenue – June 23
• New Martinsville, 3rd Street – June 10
• Oceana, Cook Parkway – June 26
• Whitesville, Lewis Street – June 24

Which Stores Have Already Closed?

Walgreens shuttered many other locations in 2025 so far. The full released list is:

California

• Hayward, Jackson Street – May 22
• Los Gatos, Blossom Hill Road – May 22

Colorado

• Lakewood, 7665 W. Jewell Avenue – May 22

Connecticut

• East Hartford, Silver Lane – May 20
• East Haven, Main Street – May 22
• New Britain, Stanley Street – May 19
• New Milford, Danbury Road – May 21

Florida

• Jacksonville, Soutel Drive – May 19

Georgia

• Decatur, Hairston Road – May 22
• Lawrenceville, Old Norcross Road – May 19
• Macon, Mercer University Drive – May 21
• Snellville, Hewatt Road – May 20
• Stone Mountain, Memorial Drive – May 19

Indiana

• Indianapolis, E. Thompson Road – May 20

Maryland

• Essex, Marlyn Avenue – May 20

Massachusetts

• Framingham, Waverly Street – May 19
• Lakeville, Main Street – May 21
• Peabody, Andover Street – May 20
• Salem, Boston Street – May 19

New Jersey

• Cherry Hill, Kings Highway N. – May 19

New York

• Brooklyn, 5th Avenue – May 21
• Middletown, Fitzgerald Drive – May 21

North Carolina

• Richlands, Richlands Highway – May 21
• Sanford, Spring Lane – May 20

Pennsylvania

• Norristown, Dekalb Pike – May 19
• Southampton, 2nd Street Pike – May 22
• West Chester, E. Street Road – May 22
• Wyncote, W. Cheltenham Avenue – May 15

Texas

• Dallas, Camp Wisdom Road – May 21

Newsweek reached out to Walgreens for comment via email.

What People Are Saying

Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "Walgreens is just the latest casualty in the private equity game of cost-cutting. This is about reducing retail footprint, shrinking lease obligations, and driving return on equity. It's textbook: slash costs, close underperforming stores, and try to recoup the investment."

Drew Powers, the founder of Illinois-based Powers Financial Group, told Newsweek: "Not that long ago it seemed like there was a drugstore on every corner, and many of those were Walgreens. But foot traffic has slowed for Walgreens as more big-box stores and online outlets added pharmacy services. Add to slower sales the evermore stringent regulations, decreased reimbursements, and increased cost of staff and Walgreens posted a $3 billion loss in the 4th quarter of 2024. While they can weather that storm for a while, the only survival plan is to close more retail locations."

Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "Walgreens is encountering what many other large nationwide retailers are: higher prices combined with more online competition, particularly in groceries and pharmaceuticals, have meant some locations are less profitable. After trying to turn business around at these locations the last few years, Walgreens has made the decision to close them."

What Happens Next

Thompson said more store closures are likely in the months ahead.

"Consumers should prepare for fewer nearby locations, longer drive times or in some areas, no local access at all," he said.

Powers said Walgreen's financial situation is indicative of the larger pharmacy industry, and a shift is already underway.

"It's an unfortunate situation that's not limited to their stores," Powers said. "Other pharmacies will more than likely have to make similar tough decisions in the years ahead."

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