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Walgreens is closing its 12-unit doors for good San Francisco Places
The drugstore chain confirmed Monday that Golden City residents will not be serving consumers at the 12 stores Walgreens has chosen to close in late February.
The addresses of the affected San Francisco stores are: 1201 Taraval Street, 3201 Divisadero, 1363 Divisadero Street, 825 Market Street, 1750 Noriega Street, 5280 Geary Boulevard, 1524 Polk Street, 1301 Franklin Street, 5 Porowell, 10 Ocean Street and 3rd Street, according to Walgreens. 5300.
A Walgreens store in Homestead, Florida. (Joe Rudel/Getty Images/File)
The upcoming closures were previously reported by CBS News Bay Area and other local media
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“Closing a store is never easy.” Walgreen's said in a statement to FOX Business. “We know our stores are important to the communities we serve, and so we do everything possible to improve store performance. When closures are necessary, as is the case here in San Francisco, we We will work with community stakeholders to minimize customer disruption.”
The move to close the 12 locations was linked to “increasing regulatory and reimbursement pressures,” which the drugstore chain said “put pressure on our ability to cover costs related to rent, personnel and supply needs.”
The company also said its retail pharmacy business is “central to our business strategy going forward.”
Walgreens CEO Tim Wentworth said in October that the company is “continuing to stabilize pharmacy by optimizing its footprint, controlling operating costs, improving cash flow, and continuing to address reimbursement models to support distribution margins and maintain patient access for the future.” Retail will focus.” In fiscal year 2025
A Walgreens store in Louisville, Ky. (Luke Short/Bloomberg via Getty Images/File)
The drugstore chain said at the time that efforts to optimize its footprint would include closing about 1,200 stores over a three-year period.
Walgreens is closing 1,200 stores as part of its efforts
Walgreens told FOX Business on Monday that the closing 12 San Francisco stores It was part of the initiative.
While speaking on the company's first-quarter earnings call late last week, Wentworth told analysts and investors that Walgreens “has begun our footprint optimization program and is pleased with the initial results.”
“We have already exceeded our historical script retention rate and have retained the majority of our store and pharmacy team,” he added. We expect to significantly increase the pace of our store closures from Q1 levels.
(Luke Short/Bloomberg via Getty Images/File)
The company said its store closing goal for fiscal 2025 was 500 locations.
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Wentworth said Walgreens “expect(s) our future footprint to support stronger performance.”
Walgreens reported that it works About 8,500 retail pharmacy locations In the US at the end of November.