Walgreens said Tuesday it will close 1,200 stores across the U.S. over the next three years to try to recover from financial struggles that include billions of dollars in losses.

The company said it will shutter 500 underperforming stores in the current fiscal year, which began last month, the Associated Press reported. Walgreens did not name the store locations.

The Illinois-based company has about 8,500 stores........

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