Walgreens to Close 1,200 Stores: What This Means for Texas Locations

The news that Walgreens may be closing stores in Texas and nationwide broke over a year ago.

While we knew Walgreens planned to close around 150 underperforming locations across the country this year, new reports from the Associated Press say the company has now expanded its estimated store closures to 1,200.

This number is expected to increase in 2025 now that Walgreens Boots Alliance Inc. has finalized its turnaround plan involving closing stores that are poor-performing or stores where leases are expiring.

Read More: Walgreens Closing 150 Stores in 2024 - Is Texas on the List? 

Walgreens isn't the only drugstore chain going through a tough time. Rite Aid filed for Chapter 11 Bankruptcy back in October of 2023 due to financial struggles and opioid-related lawsuits and plans on closing 400-500 stores.

CVS also announced they would be closing 900 stores over a three-year period, shifting their focus to digital healthcare.

Now Walgreens has plans to close 1,200 stores nationwide after the pharmacy chain contributed to a  $3 billion quarterly loss.

Walgreens to Close 1,200 Stores Nationwide—Is Your Texas Location at Risk?

Currently, about 500 stores will close before the end of the year however specifics of what store locations will be affected is still being determined. These closures are part of a larger plan to close 1,200 stores over the next three years.

While some closures have already started, the bulk of the store shutdowns will occur in the latter half of the current fiscal year, so we should expect the number of shuttered stores to grow significantly by mid-2024. In 2025 the company will reassess its updated store locations and close more under performing locations.

For now, we will have to wait for more specific information about Texas or other states; Walgreens has not yet released a detailed list of store locations that will be affected.

However, there were rumors of a leaked list of stores that were confirmed to be false, "A representative for Walgreens reached out stating the list was false and reiterated that the company has not made any decision on which stores across the country will close and timing."

The good news is that since Walgreens announced its detailed plan of closing more stores nationwide, its shares have jumped more than 13%, or $1.20, to $10.20 after markets opened on Tuesday.