Walgreens continues store closures nationwide as part of its turnaround plan
Walgreens is reportedly closing locations across the U.S. in 2026 as part of a previously announced plan to shutter underperforming stores.
Walgreens is still closing stores, but the arithmetic has changed. The company now expects to shutter fewer than 100 locations in 2026, a sharp reduction from earlier internal projections of roughly 700. The original plan, announced in October 2024, called for about 1,200 closures over three years. The scale-back came after the chain was taken private in 2025.
This is the quiet mechanics of a turnaround plan meeting reality. The public target was aggressive, designed to signal decisive action to investors and lenders. The private owners, freed from quarterly earnings pressure, can afford to be more surgical. Fewer closures does not mean the strategy failed. It means the new owners have the latitude to keep stores open long enough to see whether they can be fixed.
The Chicago closure at 86th and Cottage Grove is the useful case study. The company cites declining prescription sales and elevated theft. The regional vice president called the closure a last resort. That is the standard script, but the underlying logic is straightforward: a store that loses more than a million dollars and cannot reverse the trend is a liability, not an asset. Keeping it open would subsidize a losing operation.
For the labor market, the signal is modest but real. Fewer closures than projected means fewer displaced pharmacy technicians, cashiers, and store managers than the market had braced for. The earlier projection of 700 closures would have put thousands of jobs at risk. The revised number, under 100, is a different scale of disruption. It also suggests the company believes its remaining footprint can generate enough cash flow to justify the overhead.
None of this makes Walgreens a growth story. It remains a company managing decline with precision. The distinction matters: a company that closes 1,200 stores is shedding assets. A company that closes fewer than 100 while keeping thousands open is betting it can stabilize the core. The next few quarters will show whether that bet holds.