Walgreens, the largest pharmacy chain in America, revealed its plans to "reset" its business strategy in an effort to boost profitability for the coming years. As part of this strategy, the company announced the closure of over 100 underperforming locations in 2024, with further closures expected in 2025.

The initial round of closures will target stores that are deemed the least profitable, plagued by theft incidents, or situated in close proximity to other Walgreens locations. While the specific locations slated for closure were not initially disclosed, a leaked list indicates that five Walgreens stores in Maine will be affected. These stores are expected to shut their doors by the end of 2024.

The closure of these Walgreens stores in Maine has raised concerns about the impact on local communities, particularly smaller towns. For instance, the closure of the Fairfield location would leave the town with only one locally-owned pharmacy, creating what experts refer to as a "pharmacy desert." Similarly, the closure of the Walgreens store in Milo would result in the town having only one small pharmacy.

Among the identified stores on the leaked list is the Walgreens located at 713 Congress Street in Portland. This particular store has faced challenges in recent years, such as being smaller in size, experiencing numerous theft incidents, and having close proximity to other Walgreens locations. Moreover, its prime real estate in Portland could potentially fetch a high price if sold.

Furthermore, the Walgreens store at Oak Hill in Scarborough, another location on the closure list, faces stiff competition in a highly trafficked area. The presence of Walmart, Sam's Club, and Hannaford operating nearby in the pharmacy sector has possibly contributed to its underperformance.

Another affected location is at 461 Main Street in Saco, which was formerly an underperforming Rite Aid before becoming a Walgreens. The store continues to face challenges as both Shaw's and Hannaford operate pharmacies with more convenient hours in close proximity.

Walgreens' decision to close underperforming stores comes amid changing retail habits and mounting debt pressures. In Maine alone, several major brands may also face closures due to these challenges.

As Walgreens gears up for the rest of 2024 to reset and refocus on profitability, the closures of its stores in Maine reflect the broader efforts to streamline operations and adapt to evolving consumer preferences. Nonetheless, the impact on local communities and the concern over potential "pharmacy deserts" remain significant factors to be addressed and monitored closely.