FILE PHOTO: Signage for Walgreens, owned by the Walgreens Boots Alliance Inc., in Manhattan, New York City, Nov. 26, 2021. REUTERS/Andrew Kelly/File Photo Walgreens Boots Alliance said on Thursday it plans to close about 650 to 700 underperforming stores in the U.S., having cut its profit forecast for fiscal 2024. Weak consumer spending hurt retail operations here and abroad. The company also plans to shut up to 650 Boots stores in the UK and expects to record related pre-tax charges of between $3.8 billion and $4.1 billion, according to a regulatory filing. CEO Tim Wentworth, who came on board last October, had set in motion a complete overhaul at Walgreens through store closures
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