Walgreens Closes 2 More NJ Stores by September; 1,200 Shuttered by 2027

Walgreens is closing two more stores in New Jersey by early September as the pharmacy chain accelerates its three-year turnaround plan. A Bogota location at 33 River Road will close August 6, while a Dumont store at 406 E. Madison Ave. will shut by September 3. The closures are part of a broader effort to eliminate roughly 1,200 underperforming U.S. stores by 2027, helping the company create a smaller, more profitable footprint amid pressure from low drug reimbursement rates and declining retail sales.

Why Walgreens is shrinking its footprint

Walgreens unveiled its turnaround strategy in June 2024, targeting poor-performing locations where the company owns the property or where leases are expiring. The chain expects to shutter roughly 1,200 underperforming stores across the U.S. over three years. Low reimbursement rates for prescription drugs have cut into profit margins, while retail sales have declined, forcing the company to downsize its operations.

What happens to prescriptions and customers

Prescriptions from the Bogota location will transfer automatically to a Walgreens at 520 Cedar Ln. in Teaneck. Prescriptions from Dumont will move to a Walgreens at 241 N. Washington Ave. in Bergenfield. Patients at both locations will receive free prescription delivery for 90 days following the closures. Walgreens said team members are being supported through transitions, including opportunities to continue employment at other locations.

Impact on Bergen County pharmacy access

The closures add to pharmacy consolidation in the region. Walgreens said it remains committed to serving Bergen County communities through nearby stores, prescription transfers, and delivery options. Customers can find alternative locations and move prescriptions through walgreens.com/storelocator or by calling 1-800-WALGREENS. Other Bergen County Walgreens locations remain open in Teaneck, Bergenfield, Hasbrouck Heights, Lodi, Fort Lee, Englewood, and Cliffside Park.

Stock performance and investor outlook

Walgreens (WBA) trades at $11.98, up 0.5% on August 3, with a Meyka grade of C+ and a HOLD suggestion. The stock has risen 30.4% year-to-date but fallen 63% over three years as the company battles structural headwinds. With a negative EPS of -7.29 and net profit margin of -3.9%, the turnaround remains incomplete, though the store closure strategy aims to improve profitability.

Final Thoughts

Walgreens’ accelerating store closures reflect deeper challenges in pharmacy economics. With the stock graded C+ by Meyka and facing ongoing losses, investors should monitor whether the 1,200-store reduction meaningfully improves margins or merely slows deterioration.

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