Walgreens plans to close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround its struggling U.S. business. The company said Tuesday that about 500 store closures will happen in its current fiscal year and should immediately help adjusted earnings and free cash flow. The company, like its competitors, has been struggling for years with tight reimbursement for the prescriptions it sells as well as other challenges like rising costs to operate its stores.
