Part 2/9:
One of the primary factors contributing to Walgreens' struggles is its decision to open too many stores. Driven primarily by competition with other pharmacy chains, Walgreens has expanded aggressively over the years, acquiring various drugstore chains. While this strategy may have initially provided a competitive edge, it has led to inefficiencies. The company announced in October 2024 that it would close 1,200 stores—approximately 14% of its total locations—as many were reported to be unprofitable. The issue is compounded by the fact that Walgreens has stores in proximity to one another and in less-than-ideal locations, further diminishing their viability.