A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021.
The retail drugstore chain also said it plans to close roughly 1,200 stores over the next three years, which includes 500 in fiscal 2025 alone.
The company said those closures will be "immediately accretive" to its adjusted earnings and free cash flow.
In June, Walgreens said it intends to close a "significant" number of its underperforming stores by 2027.
Walgreens anticipates adjusted earnings per share of $1.40 to $1.80 in the coming fiscal year.
Persons:
Tim Wentworth
Organizations:
Walgreens, Walgreens Boots Alliance, LSEG, Wall Street
Locations:
Manhattan , New York City, U.S