Walgreens Boots Alliance and Sycamore Partners are reportedly discussing a deal that would see Walgreens sold to the private equity firm.A deal could be completed early next year, although the talks could fall apart first, The Wall Street Journal reported Tuesday (Dec. 10), citing unnamed sources.Reached by PYMNTS, a Walgreens spokesperson said the company does not comment on rumors or speculation about its business.Sycamore Partners declined to comment on the report.Walgreens, which operates more than 12,000 stores in the United States, Latin America and Europe, has been under pressure because of its acquisition of Alliance Boots and challenges facing the pharmacy business, according to the report.The firm’s shares have been heading downward for nearly a decade, and its market value has fallen from over $100 billion in 2015 to about $7.5 billion today, the report said.Sycamore Partners specializes in retail and consumer investments, per the report. One of its major deals was its $7 billion acquisition of Staples in 2017. Its current investments include clothing brands Hot Topic, Ann Taylor and Chico’s.Walgreens and other retail pharmacies face challenges to their traditional business models as consumer preferences turn to digital solutions and telehealth services, PYMNTS reported in October.A challenging consumer spending environment served as a main theme during Walgreens’ fourth-quarter earnings call Oct. 15.“The consumer may get stronger, but you wouldn’t count on it right now,” Walgreens Boots Alliance CEO Tim Wentworth said during the call. “We’ve been realistic about the consumer.”The company’s footprint optimization program includes the closure of about 1,200 underperforming Walgreens stores in the next three years, with around 500 expected in the second half of fiscal 2025

Through an exclusive partnership with retail industry giants, Hot Topic and BoxLunch, Thrilljoy will launch its premium series of upscale, fan-first collectibles to select stores nationwide.