Walgreens Plans , ‘Significant’ Store Closures.<br />On June 27, Walgreens announced quarterly earnings <br />that were poorer than expected, NBC News reports.<br />The company's stock fell 15% in pre-market trading.<br />CEO Tim Wentworth issued a press release.<br />We continue to face a difficult operating <br />environment, including persistent <br />pressures on the U.S. consumer and the <br />impact of recent marketplace dynamics <br />which have eroded pharmacy margins, Tim Wentworth, Walgreens CEO, via press release.<br />Our results and outlook <br />reflect these headwinds, Tim Wentworth, Walgreens CEO, via press release.<br />Wentworth elaborated in an interview with CNBC.<br />The consumer is absolutely stunned by <br />the absolute prices of things, and the <br />fact that some of them may not be <br />inflating doesn’t actually change their <br />resistance to the current pricing, Tim Wentworth, Walgreens CEO, via CNBC.<br />On a call with analysts, Wentworth said that Walgreens' strategy will have to "include the closure of a significant portion of these underperforming stores.".<br />75% of our stores drive 100% of our <br />profitability today. What that means is <br />the others we take a hard look at, we are <br />going to finalize a number that we will close, Tim Wentworth, Walgreens CEO, via call with analysts.<br />The pharmacy chain currently <br />operates about 8,600 stores
