1200 Stores to Close: Maybe They Shouldn’t Have Locked Up Every Item in NY

Walgreens is planning to close 1,200 stores over the next three years and 500 in 2025 as part of a strategy to cut $1 billion in costs.

There are about 450 Walgreens stores in New York State, but how many will remain is anyone's guess.

Earlier this year, we reported that Walgreens would be closing several of its 475 stores in New York, including the 77 7th Ave location in New York City and the store at 5651 Whiskey Hill Road in Wolcott.

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Walgreens over-expanded, signing leases on prime corner locations while dealing with declining profits from prescription reimbursements. Shoppers have also complained about their experience in-store, and many items are now locked up for theft prevention, adding to their frustration.

In my opinion

Walgreens' problem is clear: they over-expanded when physical retail was already on the decline.

There’s no need to see three Walgreens within a 5-mile radius.

And let’s face it—going into a store where everything is locked up isn’t a convenient experience.

If I have to hunt down a clerk in a red vest, ask for permission to buy an extension cord, wait for them to finish what they're doing, and unlock some prison where my power strip is held hostage, I'm leaving the store and going to Walmart.

Sure, some locations in New York have survived for now, but with one in four stores nationwide unprofitable, it’s anyone’s guess how long that will last.