Walgreens Shares Plans to Boost Profits

Walgreens Boots Alliance Inc. (Deerfield, Ill.) has announced various plans for improving business.

Plans include a number of cost-cutting measures, such as closing 200 of its U.S. locations, which is expected to save the company $1.5 billion by the end of 2017. Currently, it has closed nine stores and plans to close 70 to 80 additional ones by the end of the quarter.

According to Bloomberg Business, another element of the company’s strategy for raising profits includes drawing shoppers more toward high-end products. It has recently acquired two new beauty and cosmetic lines, including U.K. skincare brand Liz Earle from Avon Products Inc. (New York).

The company’s also announced its third-quarter earnings, with revenue of $28.8 billion and a net income increase of 82 percent to $1.3 billion.