Walgreens changes closure plans — what does this mean for NJ stores?

With the reporting of poor numbers over the last three months, Walgreens has expanded plans to close locations over the next few years, including hundreds in the near future.

The pharmacy chain on Tuesday announced that it will close 1,200 stores by the end of 2026. That includes the 300 anticipated closures that were predicted in June.

Illinois-based Walgreens believes the cost-cutting move will put the company in a healthier position as it adjusts to shifts in consumer behavior.

"This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term," said CEO Tim Wentworth.

Walgreens said approximately 500 store closures are expected to occur in its 2025 fiscal year, which began in September.

SEE ALSO: Hardware chain files for bankruptcy

Walgreens on Tuesday announced a $3 billion net loss in the fourth quarter. In the same quarter a year ago, the net loss was $180 million.

Walgreens has locations in close to 200 New Jersey towns. The drugstore chain has not yet announced which stores in the U.S. will close for good.

Report a correction 👈 | 👉 Contact our newsroom