Walgreens cuts store closure estimate

Walgreens Boots Alliance may not have to shutter as many stores in the wake of its planned merger with Rite Aid as it once thought.



According to Fortune, during an investors’ conference call Walgreens CEO Stefano Pessina said the retailer expects to have to close about 500 stores to satisfy antitrust regulations. When the proposed Rite Aid acquisition was first announced in October 2015, Walgreens had said it would need to close as many as 1,000 stores.



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