Walgreens will close 1,200 stores, hoping for a turnaround

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

Walgreens will close 1,200 stores, hoping for a turnaround
Walgreens will close 1,200 stores over three years, the company announced on Tuesday.

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

(Image credit: Justin Sullivan)