Liquidity And DebtWalgreens is under a meaningful debt burden and has not had success in monetizing its assets to date and there is growing risk to the current dividend if it is not able to improve operational performance.
Pharmacy Industry ChallengesThe retail pharmacy environment remains challenged, and to a worse degree than Walgreens initially expected.
Store ClosuresManagement now expects to only close some amount over 1,000 stores out of the ~2,000 stores that are included in its optimization plan, which is below initial expectations for ~2,000 closures.