Walgreen to close 76 unprofitable stores

Walgreen Co. on Tuesday said it plans to close 76 unprofitable drugstores starting in the second half of the year as part of a plan to save $40 million to $50 million per year beginning in its fiscal 2015.

However, the company still plans a net increase in store count this year with the opening of up to 75 locations. Currently, the company operates 8,210 stores nationwide, 138 more than a year ago, according to the Chicago Tribune.

The company did not immediately specify the locations of the stores.

Read more from the Chicago Tribune.