Lexington — Walgreens is set to close at least two locations in Lexington and another in Nicholasville as part of a broader strategy to shutter 1,200 stores across the United States. The moves were announced earlier this month, with the initial 500 closures slated for the fiscal year 2025.
According to Walgreens CEO Tim Wentworth, these closures are part of a turnaround plan aimed at improving the company’s financial outlook and customer satisfaction. “This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term,” he stated.
The closures come amid ongoing challenges faced by pharmacy chains nationwide. Rivals like CVS Health and Rite Aid have experienced similar trends, with CVS shutting down 900 stores over the past three years and Rite Aid navigating a bankruptcy process.
The store closures will unfold over the next three years, according to an earnings report released on October 15. However, specific locations targeted for closure were not disclosed at that time.
In Lexington, Walgreens has at least 10 locations, including one Community store. The affected stores include:
- The Walgreens at 3120 Pimlico Parkway, scheduled to close on November 14. Customer prescriptions will be transferred to the Walgreens at Richmond Road and Patchen Drive.
- The Walgreens at 101 E. Reynolds Rd. and Nicholasville Road, set to close on December 5. Prescriptions will be redirected to the Walgreens at 4101 Tates Creek Centre Dr..
- The Walgreens at 951 S. Main St. in Nicholasville, also closing on December 5, with prescriptions sent to the Walgreens at 901 N. Main St. in the same town.
As customers increasingly opt for lower-cost alternatives, including online retailers, traditional pharmacy models are under pressure. Though Walgreens enjoyed a temporary boost during the pandemic due to COVID-19 vaccinations, it now faces a challenging market environment.
The planned closures reflect a significant shift in the retail pharmacy landscape, as companies adjust to the changing needs and preferences of consumers.
