Massachusetts Walgreens Locations Closing Due To Poor Performance
It was announced earlier this week that Walgreens will be closing dozens of locations across the country. Among them, unfortunately, are three Walgreens locations in Massachusetts that are part of the reduction. They are located in East Boston at 1 Central Square, Westfield at 78 Main St, and in North Adams at 50 Lincoln St.
According to MSN, the stores that will be impacted by this shutdown are those that are deemed under-performing and non-profitable.
“Following Walgreens’ announcement during the quarterly earnings report, combined with a full-year profit forecast cut there was a nearly 9% plummet in pre-market trading shares,” MSN said. In addition, they shared a quote from Walgreens CEO Tim Wentworth, who explained, “We continue to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins,” and that “Our results and outlook reflect these headwinds.”
The full list of stores the company plans to close can be found here. Luckily, the pharmacy outlet does still have a significant presence across the state of Massachusetts. However, this does seem to follow a trend of pharmacy chains still struggling to grow, as Rite Aid has also shut down locations over the year.
Walgreens Locations In Massachusetts Are Not Alone
It appears much of the New England region has joined Massachusetts here. Stores in Maine and Connecticut will also be impacted.
Growing up, Walgreens was always my family’s go-to resource center for everything from toothbrushes to prescriptions to crayons. Sure, it had a lot to do with where it was located in proximity to my house, but as the years went on, new competitors like CVS nudged their way into the area. Still, I’d drive the extra five minutes to go to my trusted local Walgreens.
There was a comfort level in knowing where these necessary items were and engaging with those who worked there. In addition, it became the outlet I ran to when my allowance earned was enough to purchase my own Sports Illustrated magazine or a pack of cards. In other words, it was the hub that had the remedies for when things were challenging and the place I was excited to go to when grabbing a treat.
Still, to this day, I have a bias towards Walgreens. When my kids are in need of a humidifier for their room when dealing with heavy congestion or a cold, I swear that the Walgreens brand unit is the best and most helpful on the market.
So what can we do about it? Well, perhaps all you can do is stay loyal to the brands that have always been reliable for you and have meaning. For me, I will continue to drive the extra few blocks to make sure the lone remaining Walgreens in my town keeps its doors open.
