Walgreens plans to cut $1 billion in spending over 3 years
December 21, 2018
Walgreens Boots Alliance — still in the process of integrating over 1,900 stores into the organization acquired from Rite Aid in a $4.38 billion deal last year — says it will consolidate warehouses and close stores with a goal of cutting $1 billion in expenses over the next three years. The company’s UK stores are in a tenuous state due to uncertainty over Brexit, and global sales are down 5.9 percent from a year ago. U.S. same-store sales have fallen 3.2 percent.
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