DEERFIELD, Ill. – Walgreens is closing 200 stores in the United States in an effort to cut costs, the pharmacy's parent company said in a regulatory filing Tuesday.
The company projects the move will save more than $ 1.5 billion by fiscal year 2022.
In May, Walgreens Boots Alliance revealed that 200 stores in the United Kingdom were planned for closure and said they would review the company's "real estate" in the United States .
the company has more than 18,500 stores in 11 countries, according to the Walgreens Boots Alliance website.
Following June reports of a 24% decline in quarterly net revenues, the company's stock has plunged nearly 25% this year.