Walgreens says it will close 1,200 stores by 2027, as earnings top estimates
Publishing timestamp: 2024-10-15 11:06:03
Summary
Walgreens reported better-than-expected sales and profit for the fiscal fourth quarter, but plans to close 1200 stores over the next three years. The company is facing challenges related to pharmacy reimbursement pressure, softer consumer spending, and its push into primary care. Despite the closures, Walgreens aims to employ the majority of affected workers and expects the move to be immediately accretive to earnings and free cash flow. The company also surpassed its cost-cutting target for fiscal 2024 and provided guidance for fiscal 2025 in line with analysts' expectations.
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Keywords: pharmaceuticals, biotechnology, earnings, walgreens boots alliance inc, business news, business, dividends, breaking news, breaking news: business, health care industry, biotech and pharmaceuticals,
Source: https://www.cnbc.com/2024/10/15/walgreens-wba-earnings-q4-2024.html