Walgreen (WAG +3.1%) CEO Greg Wasson says the company will close 76 unprofitable stores in the second half of the company's fiscal year.
Most of the locations will be ones that are situated in close proximity to another Walgreens.
The synergies from the Alliance Boots acquisition will continue to be a bottom-line driver for the company. By all accounts, the integration is on schedule.
The combination of a harsh winter and a mild flu season cut into store traffic and margins during FQ2, according to execs.