By Kevin Haas
Rock River Current
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ROCKFORD — Walgreens will close its Kishwaukee Street store next month as the pharmacy giant shuts down hundreds of stores over the next two years.
The store at 1602 Kishwaukee St. will close at noon on Feb. 19, signs posted on the door this week stated. Prescription records will be transferred to Walgreens at 2323 Charles St.
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The closure will happen one year to the date since Walgreens shut down its store at 1201 E. State St. in downtown on Feb. 19, 2024.
Walgreens announced in October its plans to shut down approximately 1,200 stores by 2027. That means about one in seven Walgreens will close, including about 500 closures expected this year.
The Deerfield-based company has said shrinking prescription reimbursements, inflation and less discretionary spending has hampered its business.
Last week, the publicly traded company reported higher than expected first-quarter earnings, but its operating loss was $245 million compared to $39 million in the same quarter a year ago. The loss was largely credited to high operating costs, which reflects its plans to close underperforming stores.
“Our first quarter results reflect our disciplined execution against our 2025 priorities: stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow and continuing to address reimbursement models,” Tim Wentworth, CEO of Walgreens Boots Alliance, said in the first quarter report. “While our turnaround will take time, our early progress reinforces our belief in a sustainable, retail pharmacy-led operating model.”
Other pharmacy chains have also undergone massive closures. Rite Aid shuttered more than 800 stores amid bankruptcy proceedings in 2023 and 2024, and CVS closed about 900 stores between 2022 and 2024.
This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on X at @KevinMHaas or Instagram @thekevinhaas and Threads @thekevinhaas