PYMNTS.com October 15, 2024
Walgreens Boots Alliance is undertaking a transformation focused on its retail pharmacy business in response to persistent challenges in the consumer market and pharmacy sector. As part of this strategy, the company plans to close approximately 1,200 underperforming stores in the next three years to streamline operations and increase profitability.
A challenging consumer spending environment served as a main theme Tuesday (Oct. 15) during the company’s fourth-quarter earnings call.
“The consumer may get stronger, but you wouldn’t count on it right now,” Walgreens Boots Alliance CEO Tim Wentworth said during the earnings call. “We’ve been realistic about the consumer.”
Walgreens Boots Alliance Global Chief Financial Officer Manmohan Mahajan shared Wentworth’s sentiments, saying, “the consumer backdrop remains a challenge. Our customer...
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