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Most Walgreens stores will be closed on Thanksgiving for the first time in the company's history "to give time back to its workforce," the retailer said Thursday.
Why it matters: The change comes as the drugstore chain is reeling from labor shortages, executive turnover, fierce competition, debt issues and retail theft.
- Walgreens' competitors CVS and Rite Aid told Axios that stores will be open Thanksgiving but most locations will operate with reduced hours.
Between the lines: A majority of the nation's largest retailers will keep their doors closed on Thanksgiving for the fourth year in a row, including Walmart, Target, Best Buy and department stores.
- Drugstores have traditionally had reduced hours with some pharmacies closed on holidays like Thanksgiving and Christmas.
Yes, but: Nearly all 700 Walgreens 24-hour locations — out of 9,000 total stores — will remain open on the holiday, the company said.
What they're saying: "We have consistently heard from our team members — who are the face of Walgreens — that time off is a meaningful way for us to demonstrate we value them," Walgreens executive Tracey Brown said in a statement.
CVS Thanksgiving hours 2023: Stores to close early
Zoom in: CVS said in a statement to Axios that like last year it will "be closing all of our non-24 hour CVS Pharmacy locations early on Thanksgiving Day."
- Hours will vary by location.
Rite Aid Thanksgiving hours
Rite Aid told Axios that the majority of its stores "will be open for the holidays with varying hours of operation" but its pharmacies will be closed on Thanksgiving.
CVS and Walgreens open Christmas Day
What's next: Expect to find more drugstores open on Christmas Day than Thanksgiving.
- Both CVS and Walgreens confirmed to Axios that stores will be open on Dec. 25.
- All Rite Aid stores will be closed on Christmas, the company told Axios.
Most Walgreens stores will be open with reduced hours from 9am to 6pm and 24-hour locations and pharmacies will remain open.
- CVS said many locations will be open regular hours on Christmas Eve, Christmas Day, New Year's Eve and New Year's Day but some stores may have reduced hours or be closed on the holidays.
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