Walgreens has revealed plans to close approximately 1,200 of its U.S. stores over the next three years as part of a turnaround strategy aimed at stabilizing its struggling business. The decision comes on the heels of a reported $3 billion loss in quarterly earnings, prompting the chain to shutter a significant portion of its locations, which constitutes about 14% of its U.S. stores. The closures will affect several states, including New York, New Jersey, and Connecticut, as Walgreens seeks to address underperformance and boost profitability.