Big Retailer With 37 Locations in Idaho is Planning Significant Closures

Last summer, a popular retail chain with 37 locations in Idaho said that they planned to close about 150 stores by the end of August 2024.  August 2024 is here and the outlook for that retailer is a little bit bleaker than initially anticipated. 

UPDATE: Since our original publish date, the Burley location has re-opened. The temporary closure was reportedly due to a power outage the day they were listed as "temporarily closed" online. The original story follows.

At the time, Walgreens said that their bottom line was suffering as demand for COVID-19 testing and vaccines dropped. They also felt that their customers were pulling back on spending due to shaky economic conditions. As a result, they planned to close 150 of their pharmacies in an attempt to slow the struggle. 

READ MORE: Bankrupt Company Suddenly Closes ALL of Its Locations in 60 Idaho Cities

Since then, Walgreens has quietly closed dozens of  locations across the country, including in Idaho and it doesn’t look like the cuts are done yet. During an earnings call last month, the company’s CEO revealed that as the company continues to struggle, they’re planning to shutter about 25% of their remaining locations in the United States. 

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At the beginning of the year, Walgreens was ranked as the eighth largest retailer based on sales figures with a portfolio of about 8,600 locations. During the earnings call, their CEO wasn’t prepared to name the exact number of stores they’re cutting but math tells us that it’s possible that around 2,150 Walgreens locations across the United States will close. According to Good Housekeeping, the number of stores will be whittled down over the next three years. 

 After analyzing their roster of stores, the company realized that it only takes 75% of their stores to account for 100% of their operating costs. Stores that aren’t profitable, are too close to another Walgreens location or are struggling with shoplifting will likely be the first to go. 

Initially, Good Housekeeping claimed to have obtained a list of locations by state but quickly revised their article after being told by a Walgreens representative that they have not compiled or released an official list. It appears that the leaked list included some locations listed for “sublease” on the Walgreens Real Estate page. 

Only 91 locations were on that supposed leaked list, so even if there is an ounce of truth on that list those closures only represent 1% of Walgreens current locations so there’s a real possibility that Idaho could lose more location in the coming years. 

Walgreens has already cut one store in Boise. The Federal Way location closed on February 27, 2024. The location in Burley is listed as “temporarily closed” on their website.