![]() However, it has continued to see some changes in shopping habits. That included a 13.3% adverse currency impact.Īs customers come back to stores, Walgreens also said it is investing in its workforce to return to normal operating hours. It had fourth-quarter sales of $5.1 billion, a drop of 6.6% from the year-ago period. Its international business took a big hit from currency headwinds. Prescription volume got a lift from medications needed for seasonal illnesses and refills of maintenance medications, but were hurt by reduced store hours due to staffing shortages, Kehoe said on the investor call. Comparable sales rose 1.6%, however.Ĭomparable prescriptions, excluding immunizations, were roughly flat with the year-ago period. decreased by 7.2% to $26.7 billion in the fourth quarter compared with the year-ago period. Sales in Walgreens' retail and pharmacy division in the U.S. That's a decline from 4.7 million vaccines in its fiscal third quarter, and a sharp drop from the 15.6 million vaccines in the first quarter and the 11.8 million in the second quarter. In the fourth quarter, the drugstore chain administered 2.9 million vaccinations. Healthcare division and elevating Walgreens Chief Medical Officer Kevin Ban to its executive committee.Ĭovid vaccines, which boosted Walgreens' sales and foot traffic, have fallen off significantly. It has also made leadership announcements, tapping CareCentrix CEO John Driscoll as president of its U.S. It said it now anticipates a sales target of $12 billion, rather than $11 billion, for fiscal 2025. On Thursday, Walgreens raised its outlook for the health-care division. health-care unit, the growth engine Walgreens is leaning on, is still in early days but shows some positive signs. Walgreens had a lower bar to clear for quarterly expectations, as Wall Street tempered estimates as it anticipated demand for Covid shots and tests to cool, said John Boylan, an equity research analyst for health care at Edward Jones. Walgreens also has 70 stores with Health Corners, a designated space where a registered nurse or pharmacist can schedule a mammogram, screen a patient for high blood pressure or diabetes or help with other health-care needs. Healthcare business."Īt the end of the quarter, VillageMD had 334 doctor offices - including 152 that are next to Walgreens stores. It recently announced plans to accelerate acquisitions of two other companies: CareCentrix, which coordinates care and benefits for at-home care, and Shields Health Solutions, a specialty pharmacy company.īrewer said in a news release that the coming fiscal year "will be a year of accelerating core growth and rapidly scaling our U.S. ![]() It invested $5.2 billion to become majority owner of the primary-care company. It is opening hundreds of doctor offices with VillageMD. ![]() Walgreens has made significant investments to transform from a major drugstore chain to a large health-care company. A year ago, Walgreens laid out a cost-savings goal of $3.3 billion by 2024. It also had costs associated with its long-term cost management program, as it shuttered some stores. On a call with investors, Global CFO James Kehoe said Walgreens' profit took the biggest hit from a $780 million noncash impairment charge in its Boots UK business related to trademarks and licenses. Its net loss was $415 million, or 48 cents per share, compared with net income of $627 million, or 72 cents per share, a year earlier. Including certain costs, Walgreens swung to a loss in the three-month period. Sales declined from the previous year's quarter. Earnings per share: 80 cents, adjusted, vs.Here's what the company reported compared with what analysts were expecting for its fourth quarter ended Aug. "At the same time, we know that health and wellness will always be a priority and increasingly so after Covid-19." "With inflation at four-decade highs, consumers are expressing uncertainty about the future and seeking value," she said. ![]() Plus, she said, more people recognize the importance of investing in their health. And she said it sells many "need now categories" from toothpaste to medication. It has expanded alternative revenue streams, including its advertising business. Unlike big-box retailers, she said the drugstore chain does not depend on the sale of big-ticket items. ![]() On a call with investors, Walgreens CEO Roz Brewer acknowledged the tougher economic backdrop, but said the company is in a good position. Walgreens reported its earnings on the same day as a hotter-than-expected inflation report from the government. The company's shares rose over 5% Thursday. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |