Walgreens Meltdown Now Affecting Thousands Of Stores Including Texas

Like so many brick and mortar retail stores across Texas, it appears to be another case of one step forward, two thousand steps backwards for Walgreens in the Lone Star State and throughout the rest of the United States.

Read Related: Walgreens Now Closing Texas Stores, Is One Of Them Yours?

In the above link you will be able to read how 6 months ago Walgreens was already in the midst of closing a couple hundred stores, well now that number has gone up ten times, and it is estimated nearly 25% of all their retail locations will be closed within the next three years.

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Walgreens is not the only pharmacy that is having serious troubles staying afloat. Other major players in the convenience store plus prescription retail game like CVS and Rite Aid are closing up with the latter recently filing Chapter 11 Bankruptcy.

Walgreens Meltdown Now Affecting Thousands Of Stores Including Texas

According to this Good Housekeeping article, the first stores to go will obviously be the underperforming locations, and it appears like the reason a quarter of all stores are on the chopping block is because 100% of the annual operating budget is covered by 75% of their locations. Right now, Walgreens has not released what additional locations will be closing, just that you can expect the number to exceed 2,000.

It sounds like the idea is to give up on sunk money, and just focus on growing the revenue from successful stores, so that they can effectively do more with less. If there is any additional good news within the recent announcement is that Walgreens is hopeful to move the vast majority of their current employees from closing stores to other positions.