Walgreens is closing 1,200 stores. CVS is closing 900. Rite-Aid is closing 500. What is going on with America’s drug stores?

Walgreens started course correcting in May by cutting prices on 1,300 products sold in its stores nationwide to attract frugal shoppers. In June, the company announced plans to close hundreds of its stores, and then, it followed up in July with an announcement that it would close about 2,150 “underperforming” locations by 2027.

Walgreens is planning to close around 1,200 locations, as the drugstore chain and its rivals struggle to define their role for U.S. shoppers who no longer look to them first

A staple pharmacy on the Upper East Side has already posted a sign that it will close in a few weeks. Residents say The Duane Reade, owned by Walgreens, competes with other retail pharmacies and shoplifters.

"I had previously been informed that this location was to be closed in mid-November, but that after several thefts in recent weeks the decision was made to close early," she said. The Walgreens website and voicemail messaging system says the store is "temporarily" closed but the pharmacy drive-thru is still open.

Walgreens announced 1200 stores will be closed down over the next three years while 800 more are still under consideration. Here's what we know.