Walgreens plans to close two of its Connecticut locations in November, including stores in Bristol and West Hartford, amid a broader cost-cutting effort.
The Walgreens at 25 Main St., Bristol, will close Nov. 8, and the one at 940 S. Quaker Lane, West Hartford, will close Nov. 13, according to company spokeswoman Karen May.
Signage is posted at the locations to notify customers of the planned closures.
Walgreens also shuttered a Newington location on Cedar Street earlier this year.
According to May, the company takes several factors into account when deciding to close locations, such as the existing footprint of stores, dynamics of the local market, and changes in the buying habits of patients and customers.
“We are creating the right network of stores in the right locations,” May said.
When a store closes, pharmacy patients typically do not have to take any action, and prescription files transfer automatically to the nearest Walgreens, according to the company. Patients will receive notice about the transfer through mail and other means about how they can access their prescriptions and other health and wellness services.
“We make every effort to retain impacted team members at other nearby locations,” May said.
In an October 12 report, Walgreens Boots Alliance Inc. announced financial results for the fiscal year and fourth quarter that ended Aug. 31, 2023.
Net loss in the fourth quarter was $180 million, while net loss in fiscal 2023 was $3.1 billion, with opioid-related claims and litigation playing a role, according to the company.
Interim Chief Executive Officer Ginger Graham said, “Our performance this year has not reflected WBA’s strong assets, brand legacy, or our commitment to our customers and patients.”
According to Graham, the company has taken a number of steps to align its cost structure with business performance, including planned cost reductions of at least $1 billion, and lowered capital expenditures by approximately $600 million.
“We anticipate seeing the impact of these actions in fiscal 2024, beginning in the second quarter,” Graham said in the report. “We are also intently focused on accelerating our profitability in the U.S. Healthcare segment.”
