By  on December 23, 2008

Walgreen Co. — the drugstore chain with 6,500-plus doors — will again pull back the reins on new store openings.

The company said Monday it will further reduce its organic (or nonacquisition-related) store openings to between 4 and 4.5 percent in 2010 and between 2.5 and 3 percent in 2011. The planned slowdown comes on the heels of an announcement last July to reduce organic store openings to 5 percent by 2011. The company said the lowered target rate will reduce capital expenditures through 2011 by an additional $500 million, on top of the $500 million in capital expenditure savings announced in July.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus