Walgreen’s, a Chicago original, is set to close 76 stores later this year as winter weather and generic prescriptions have hurt the company’s profit margins.

According to a press release, these store closings are an attempt “to optimize the company’s asset base.” The closing of 76 stores still remains a drop in the bucket of the remaining 8,210 Walgreen’s stores nationwide.

Despite slipping slightly from second quarter earnings at this point last year, investors are apparently buying into Walgreen’s new growth model as the stock rose 3 percent this past Tuesday.

 

Source: Business Week