Walgreens scales back store closures, plans fewer than 100 closures in 2026

Walgreens, which was taken private by private‑equity firm Sycamore Partners in 2025, has significantly slowed its multiyear downsizing effort. The pharmacy chain now expects to close fewer than 100 stores in 2026, a sharp reduction from earlier internal estimates of around 700 and the original plan to shutter roughly 1,200 locations over three years. Walgreens still operates more than 8,500 stores nationwide, making it the second‑largest pharmacy retailer in the United States.

The company cites a mix of factors for individual closures, including expiring leases, weak sales, distribution‑center consolidation and, in some cases, ongoing theft and safety concerns that make certain sites unprofitable. Chicago has seen several closures this year; one store on Cottage Grove Avenue lost over $1 million in a single year and experienced inventory shrinkage of 16%, four times the company average. Local officials have sometimes blamed Walgreens for abandoning neighborhoods, while the retailer frames the cuts as a “store optimization strategy.”