The pharmacy located East Fordham Road will be shutting down for good on Nov. 7. It's one of 1,200 locations across the U.S. that will be closing over the next three years.
"I think it's very inconvenient," said Fordham student Ryan Murphy. "We don't have another good option in the area."
Residents in the area believe shoplifting played a role in the store's closure and say they have witnessed shoplifters getting bolder.
Walgreens said that economic headwinds have made it too difficult to cover rent, staffing and supply costs.
The pharmacy giant said in a statement:
"Our retail pharmacy business is central to our go-forward business strategy. However, increased regulatory and reimbursement pressures are weighing on our ability to cover the costs associated with rent, staffing, and supply needs. It is never an easy decision to close a store. We know that our stores are important to the communities that we serve, and therefore do everything possible to improve the store performance. When closures are necessary, like this one in New York, we will work in partnership with community stakeholders to minimize customer disruptions. We intend to redeploy the majority of our team members from those stores that we close."
Experts believe shoplifting is one factor among many.
"When everything is behind a plexi-glass screen and a customer is trying to buy something, it creates additional friction, and friction is the death of retail," said business analyst Parag Amin. "In the long term I think this will be good for customers, because it creates more competition ready to take their place."
A mom-and-mom pharmacy across Webster Avenue is more than ready to take on new customers.
"We will get some of the business, so we are very happy for that, we are very fortunate," said Plaza Pharmacy co-owner Mahesh Patel.
The East Fordham Road location is among 500 stores being shuttered in fiscal year 2025.
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