to remodel existing stores and open new stores and distribution centers. In 1996, Walgreen opened or relocated more than 200 stores and remodeled more than 70 existing stores. Recognizing that it needs top performing stores in its portfolio, the company also closed more than 100 stores. Since 1992, Walgreen has opened more than 870 stores, remodeled 481 stores, opened two mail service facilities and opened a major distribution center. Since 1992, more than 340 stores have been closed (Carini 2408).
Current plans call for a total of 3,000 drug stores by the year 2000, and the company has indicated that it intends to generate this growth internally rather than through acquisitions. The plan will include continuing to close nonperforming outlets as well as opening new stores and renovating existing stores (Levenson 816).
Although Walgreen generates the most revenues of any drug store operation, it i
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