Dozens of Walgreens stores in San Francisco will close

Bilt CEO Ankur Jain explains how members can use their FSA/HSA accounts on Walgreens purchases.

Walgreens will close its doors on the 12th for good San Francisco places.

Golden City residents will see 12 select Walgreens stores stop serving consumers at the end of February, the drugstore chain confirmed Monday.

Affected San Francisco store locations include 1201 Taraval Street, 3201 Divisadero Street, 1363 Divisadero Street, 825 Market Street, 1750 Noriega Street, 5280 Geary Boulevard, 1524 Polk Street, 1301 Franklin Street, 113 Potrero Ave., 113 Potrero Ave. 118 included. Ocean Avenue and 5300 3rd Street, according to Walgreens.

Walgreens store in Homestead, Fla. (Joe Raedle/Getty Images/File)

The impending closures have been previously announced CBS News Bay Area and other local media.

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“Closing a store is never an easy decision” Walgreens He said this in a statement to FOX Business. “We know our stores are important to the communities we serve, and that's why we're doing everything we can to improve store operations. When closures are necessary, like those in San Francisco, we'll work with community stakeholders to minimize disruption to customers. ”

The move to close 12 locations was attributed to “increased regulatory and reimbursement pressures,” which the drugstore chain said “impacted our ability to meet costs related to rent, staffing and supply needs.”

He also said the retail pharmacy business is “central to our business strategy going forward”.

Walgreens CEO Tim Wentworth said in October that the company will “focus on stabilizing retail pharmacy by continuing to address reimbursement models to optimize our footprint, control operating costs, improve cash flow and support distribution margins, and protect patient access for the future.” In FY 2025.

A Walgreens store in Louisville, Ky. (Luke Sharrett/Bloomberg via Getty Images/File)

The drugstore chain said at the time that efforts to optimize its footprint would include about 1,200 stores to be closed over three years.

WALGREENS TO CLOSE 1,200 STORES AS PART OF TURNOVER EFFORT

Walgreens told FOX Business on Monday that it was closing 12 San Francisco stores was part of this initiative.

When discussing the company's first-quarter earnings late last week, Wentworth told analysts and investors that Walgreens had “commenced our footprint optimization program and was pleased with the initial results.”

“We are currently exceeding historical script retention rates and have retained the majority of store and pharmacy team members,” he said. “We expect to significantly increase our store closing rate from first quarter levels.”