Walgreens continues its Denver downsizing.<\/p>\n
The national pharmacy chain is set to close two locations next month, one at 950 S. Quebec St. on Sept. 8 and another at 6200 E. Colfax Ave. on Sept. 10.<\/p>\n
Spokeswoman Jen Cotto said the moves are part of a\u00a0nationwide plan\u00a0to reduce its store count by 1,200 within three years. Walgreens also closed six area stores\u00a0in February\u00a0and shut down\u00a0multiple others\u00a0in the Denver-metro area late last year.<\/p>\n
In an SEC filing, the business said it closed 423 stores from October through May as a part of the program.<\/p>\n
\u201cWe will continue to execute our previously announced turnaround plan aimed at stabilizing the retail pharmacy, including our footprint optimization program,\u201d Cotto said in an email. \u201cIncreased regulatory and reimbursement pressures are weighing on our ability to cover the costs associated with rent, staffing, and supply needs.\u201d<\/p>\n
The Illinois-based retailer\u00a0reported\u00a0a net loss of $175 million in the most recent quarter, a far cry from the $344 million earned in the same period last year. Despite the change, the company said sales increased 7% year over year.<\/p>\n