Walgreens is planning potentially sweeping store closures as it faces what its CEO called a “challenging” environment for pharmacies and U.S. consumers. The pharmacy chain on Thursday morning announced quarterly earnings that fell short of Wall Street expectations. Walgreens’ stock dropped more than 20% just minutes into the trading day. In an interview with CNBC, […]
This year was a rough one for some major retailers, as illustrated by an 80% surge in store closures in 2023 from the year before, according to Coresight Research. The reasons for this year’s more than 4,600 store closures are varied, ranging from the bankruptcy of a major retail chain to some operators closing underperforming […]
J.C. Penney on Friday released a list of 138 department stores it plans to close as part of a previously announced plan to shrink its footprint as it grapples with industry challenges. The company had estimated that it would close 130 to 140 locations. Most stores will begin liquidation sales April 17 and close in […]
