CNBC October 15, 2024
Key Points
– Walgreens reported fiscal fourth-quarter sales and profit that beat Wall Street’s expectations, reflecting the company’s efforts to slash costs.
– The retail drugstore chain also said it plans to close roughly 1,200 stores over the next three years, which includes 500 closures in fiscal 2025 alone.
– The results cap a rocky fiscal 2024 for Walgreens, which is grappling with pharmacy reimbursement pressure, softer consumer spending and challenges related to its push into primary care.
Walgreens on Tuesday reported fiscal fourth-quarter sales and adjusted profit that beat Wall Street’s expectations, as the company slashes costs in an attempt to steer itself out of a rough spot.
The retail drugstore chain also said it plans to close roughly...
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