2000 Colfax Avenue

Walgreens announced on Thursday morning their plans to close a significant number of underperforming stores across the U.S. as part of a multi-year footprint optimization program.

This decision, aimed at improving profitability and operational efficiency, follows ongoing challenges in the retail pharmacy sector, including increased competition and increasing shrink (theft).

The company's share price is down 54% to date.

Despite no official announcement, the store at the corner of Race Street & Colfax is showing troubling signs. On a recent visit, we observed numerous empty shelves, which employees attributed to "theft, a lot of theft."

This is especially concerning given recent closures of Choice Markets at 2200 E Colfax, 7-11 at York & E Colfax, and the Walmart at 10400 E Colfax in Aurora for similar reasons. If Walgreens shuts down, the 7-11 at 1975 E Colfax Avenue will be the sole retailer along the stretch between Steele and Ogden.

The growing trend of store closures along Colfax Avenue highlights a broader issue of retail sustainability in high-theft areas. Local businesses and residents will undoubtedly feel the impact if this trend continues, leaving fewer options for essential goods and services. The potential closure of Walgreens would mark another blow to the community, emphasizing the urgent need for solutions to retail theft and support for local businesses.