Fri. Oct 30th, 2020

By Donna Westfall

Although Walgreens merged with Alliance Boots and their profits were astronomical they are still planning on closing about 200 stores nationwide. Walgreens posted a profit of $2.06 billion, up from $716 million a year earlier. Their merger with Alliance at the end of 2014 came with $500 million in cuts including store closings, mostly in the US.

Who are the players? Billionaire Mr. Pessina, Italian-born who has built up Alliance Boots through acquisitions.

I called Crescent City Walgreens located at 787 L St in Crescent City between Hwy 101 North and Hwy South and asked for Store Manager, Heather Jones.  She was not in, however, the customer service rep already knew about the news of store closings.

When I asked her if their store was closing, she replied, “We haven’t heard anything yet.”

For more in depth information please refer to this link at the Wall Street Journal:

http://www.wsj.com/articles/walgreens-posts-higher-earnings-expands-restructuring-program

 

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