DEERFIELD, ILL. — Walgreens Boots Alliance Inc. (NASDAQ: WBA), a global pharmacy-led enterprise comprising brands such as Walgreens and Duane Reade, plans to shutter 600 of its stores as part of its $4.38 billion purchase of rival Rite Aid Corp.
During a conference call on Wednesday, Oct. 25, Walgreens spokesman Michael Polzin said the 600 shuttered stores will mostly be Rite Aid locations within close proximity to existing Walgreens stores as the company looks to optimize its retail store footprint.
On Sept. 19, Walgreens announced it had secured regulatory clearance for its acquisition of 1,932 stores, three distribution centers and related inventory from Rite Aid.
...moreRSK: You saw this coming. More opportunity for someone to buy or lease some choice locations for other than a Walgreens.
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- - Volume: 5 - WEEK: 44 Date: 10/31/2017 8:45:21 AM -