Walgreens (WBA) announced Tuesday that it will close another 1,200 stores in the U.S. as it tries to stem hemorrhaging losses.

Walgreens Boots Alliance (WBA) beats earnings and announces store closures, driving stock up 5.22% in early trading.

Walgreens said the 1,200 closures of the 8,500 stores in the U.S. over the next three years include 300 stores “previously approved” under a company “transformational cost management program.” Walgreens said about 500 stores will close in its fiscal 2025, which began Sept. 1 of this year.