Walgreens says about a quarter of its stores are unprofitable. Big pharmacy chains are struggling with growing retail competition and lower prescription payouts.

Walgreens plans to close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround its struggling U.S. business

The closures will occur within the next three years, starting with 500 stores being shuttered in fiscal year 2025, Walgreens announced Tuesday.

The pharmacy chain Walgreens will be closing 1,200 stores across the country, the company announced today. According to Forbes, the closures come along with the company’s announced $3 billion in losses in the fiscal quarter ending on Aug.

will shut down in the next year.

Walgreens announced that it will close about 1,200 stores over the next three years, with 500 shuttering as early as next year. It's part of the company's turnaround effort.

Walgreens will close about 1,200 stores over three years as the drugstore chain struggles to right its US business.