Thousands of jobs at beauty chain Boots could be at risk after its US owner issued a shock profit warning on Tuesday evening.
Walgreens Boots Alliance said it had suffered its "most difficult quarter" in its history and warned it needs to take "decisive steps to reduce costs in the UK".
A Boots spokesman added stores are currently being reviewed - with the group looking at poor performing shops as well "opportunities for consolidation".
It comes after the company previously said 350 jobs were at risk at its Nottingham headquarters - with other stores reshuffling across the country, including two closures in Hull's city centre next month.
Walgreens Boots Alliance employs around 60,000 UK workers across 2,500 shops - its famed for its high-end beauty concessions, in store-pharmacy services and NHS walk-in centres. The chain's biggest high street rival is Superdrug.
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Walgreens, which is also a large pharmacy chain in the US, said profits had been hit by tough competition and falling prices in the drugs market.
Stefano Pessina, the company’s chief executive, said: "While we are not the only company that has been impacted by the marked change in the environment, that’s not an excuse."
Overall Walgreens said it hopes to save £1.1billion by 2022 – up from its previous target of around £750million.
However, at the same time, a Boots UK spokesman told Mirror Money of plans to open a brand new store in Covent Garden - a former Marks & Spencer branch that was axed last year due to crippling business rates.
The London store is said to be the first of a string of revamped Boots outlets being rolled out by chief executive Seb James who is giving the retailer one of the biggest makeovers in its 170-year history.
Boots has signed a 20-year lease for the shop which will set it back £3.3million a year in rent.
A statement told the Mirror: "We’re really excited about opening a new flagship store for London in Covent Garden in June this year. This will bring new beauty brands and other exciting content to the thousands of people that live, work, shop and visit the area each year and we look forward to welcoming them into our new store."
Boss James has previously warned that Boots needs to make "radical change" to keep customers coming through its doors amid the shift to online retailers such as global giant Amazon.
Speaking at a Retail Week conference, he said he wants to make Boots the beauty destination of choice by scrapping traditional beauty counters and introducing live demonstration areas manned by more than 200 specialists.
He said: "If we're going to make Boots the place you choose for beauty, we will need to make radical change. We have been behind the curve, no question."
Tuesday's shock announcement comes as owner Walgreens Boots Alliance reported a 2.3% drop in like-for-like UK retail sales in its second quarter to February 28, while comparable pharmacy sales dropped 1.5%.
Union Usdaw is now calling on Walgreens Boots Alliance to enter into talks with representatives over potential job cuts.
Spokesman Daniel Adams, said: "This is clearly very worrying news for the staff in all Boots stores and the Union will be doing all it can to support members during this difficult time.
"We would urge the company to engage with Usdaw as the trade union for Boots staff to ensure that all avenues to minimise job losses are explored during this critical time."
