Walgreens is pressing on with its "Footprint Optimization Program" and shuttering hundreds of locations in an effort to streamline operations and prioritize its core retail pharmacy business.

In October, the company said it would be closing about 1,200 stores over the next three years, including 500 in the current fiscal year that ends on August 31.

Walgreens told Newsweek that while it does not provide comprehensive lists of store closures, it remains "on track" to meet this year's target.

Why It Matters

Walgreens operates more than 8,000 stores across all 50 states and is one of several drugstore chains to consolidate stores in an effort to stave off financial pressures and compete in an increasingly challenging retail environment. The closures, and those of rivals like CVS and

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