Walgreens profit beats Street, drug chain to close 200 U.S. stores

April 9, 2015 12:16 PM

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Walgreens profit beats Street, drug chain to close 200 U.S. stores

(Reuters) - Walgreens Boots Alliance Inc (WBA.O) reported a better-than-expected quarterly profit and said it would close about 200 stores in the United States under a cost-cutting program that would help it save $1.5 billion by the end of fiscal 2017.

The company said on Thursday that the restructuring, which will also include reorganizing field and corporate operations and streamlining IT and other functions, would result in pre-tax charges of about $1.6 billion-$1.8 billion over time.

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