Forbes October 15, 2024
On a day when Walgreens Boots Alliance reported another $3 billion in losses, the drugstore chain said it will close 1,200 stores over three years in an effort to return to profitability and long-term growth.
The drugstore chain, which has been dogged for much of this year by myriad operating issues including sagging retail sales and billions of dollars in losses on its VillageMD clinic investment, reported a net loss of $3 billion, or $3.48 per share, in its fiscal fourth quarter ended Aug. 31 compared to a net loss of $180 million, or 21 cents a share, in the year ago period.
In its quarterly earnings report released Tuesday morning, Walgreens said the bottom line was “primarily driven by...
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