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Walgreens to close 200 stores nationwide

Walgreens to close 200 stores nationwide

Walgreens, the nation's largest drugstore chain, said Thursday it will close about 200 stores nationwide as part of a cost-cutting plan announced in August. The Deerfield, Ill.-based company said it also plans a corporate reorganization and streamlining of information technology. The cutbacks will take place over three years and are expected to save $1.5 billion by the end of fiscal year 2017. Walgreens said the changes will create a "faster and more agile company." Walgreens spokesman Michael Polzin said the company was still finalizing the list of stores and did not have a time frame for when they would be closing. The profitability and lease situations of the stores...