Walgreens Boots Alliance Shuttering 200 Drugstores Amid Global Cost Cutting Plan

Credit: Boots

Walgreens Boots Alliance net earnings decreased 23.6% to $1.0 billion compared with the same quarter a year ago, while net earnings per share decreased 16.5% to $1.13. Sales were $34.6 billion, an increase of 0.7% from the year-ago quarter, primarily due to growth in the Retail Pharmacy USA and Pharmaceutical Wholesale divisions. Operating income was $1.2 billion, a decrease of 24.7% from the same quarter a year ago, including the impact of costs related to the Transformational Cost Management Program. Adjusted operating income was $1.7 billion, down 11.7% from the same quarter a year ago, primarily due to lower U.S. pharmacy margins and retail sales, and Boots UK.