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July 8, 2024

Milo might be among 5 Maine places where Walgreens will close stores

Walgreens store on Congress Street in Portland Photo / Boden Terry A Walgreens store at 713 Congress St. in Portland.

Editor's Note: Multiple news outlets including Mainebiz identified five stores in Maine that Walgreens plans to close. However, a Walgreens spokesperson has told Mainebiz that the company has not announced the closures of specific branches. Walgreens is "finalizing an optimization program that we expect will include closing a significant portion" of its under-performing stores over the next three years, the spokesperson said.

Less than a week after Bissell Bros. Brewing Co. announced it will close its Milo taproom, the central Maine town is reportedly on the list for Walgreens closings.

Walgreens has not made any addresses official.

News reports earlier this week indicated that five Maine locations could be earmarked for closure, in Fairfield, Milo, Portland, Saco and Scarborough.

In the case of Portland and Scarborough, Walgreens has multiple locations. Fairfield is less than 4 miles from a Waterville store. 

But Robert Canney, town manager of Milo, told Mainebiz that if the Milo store is closed, the nearest Walgreens would be in Dover-Foxcroft, a 20-minute drive. 

"[There is] no other pharmacy in town, unfortunately," he said via email. 

'Challenging environment'

Walgreens operates 12,500 stores worldwide and nearly 9,000 in the U.S. The chain is a subsidiary of Walgreens Boots Alliance, which announced June 27 third-quarter earnings of $344 million, or 40 cents a share, up from $118 million, or 14 cents, a year earlier. 

But the company said it continues to face a "continued challenging environment."

Walgreens lowered its guidance for the fiscal year to a range of $2.80 to $2.95 per share, "reflecting challenging pharmacy industry trends and a worse-than-expected U.S. consumer environment."

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