Walgreens Plans to Shutter 14% of US Stores Over Three Years

Walgreens Boots Alliance Inc plans to close 14 percent of its US stores to cut costs as consumers pull back spending.

The drugstore chain said Tuesday it will shutter around 1,200 outlets over the next three years, with 500 closures slated for 2025. The shares surged 14 percent at the open of trading in New York.

The company also issued profit guidance for 2025 that met Wall Street estimates.

Adjusted earnings will be in the range of $1.40 to $1.80 a share in the year ending Aug. 31, 2025,…