Walgreens to Close Doors: 1,200 Stores Shutting Down by 2025

Walking into your local Walgreens store and finding it closed. That's what will happen to 1,200 Walgreens stores across the country by 2025. Why? The company wants to save $1 billion. High inflation and low drug reimbursements are hurting their profits. This year, Walgreens' stock hit a 30-year low and dropped by 65%, making it the worst-performing stock on the S&P 500. The new CEO, Tim Wentworth, is making big changes. He's cutting costs and removing some executives. Walgreens also had to deal with some tough losses from their home care provider and investments. Despite all this, the company managed to meet profit expectations for the fourth quarter. If you're thinking about the future, Walgreens expects adjusted earnings of $1. 40 to $1. 80 per share for the next fiscal year. This isn't easy, and the CEO knows it. "We're turning things around, and it will take time," he said.