Walgreens, one of the country’s largest pharmacy chains, is closing 1,200 stores across the U.S.

The shutdowns, announced yesterday in an earnings report, will take place over the next three years with 500 taking place in fiscal 2025. Locations that will be closed have not been announced but all of the locations were deemed “unprofitable.”

“In fiscal 2025, we are focusing on stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow, and continuing to address reimbursement models to support dispensing margins and preserve patient access for the future,” Tim Wentworth, Chief Executive Officer, Walgreens Boots Alliance, said in a statement.

“Fiscal 2025 will be an important rebasing year as we advance our strategy to drive value creation. This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term,” he added.

The shutdowns represent about 13% of the more than 8,700 Walgreens stores in the U.S.

Walgreens announced in June it would close some underperforming locations but at the time, the chain said it expected about 300 shutdowns. At the time, CNN reported Walgreens said about a quarter of its stores were unprofitable.