Walgreens Boots Alliance Q2 2024: sales up 6.3 percent but loss per share hits US$6.85
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Walgreens Boots Alliance Q2 2024: sales up 6.3 percent but loss per share hits US$6.85

THE WHAT? Walgreens Boots Alliance has reported its results for the second quarter of fiscal 2024. The drugstore owner saw sales increase 6.3 percent year-on-year to US$37.1 billion, (+5.7 percent on a constant currency basis).

THE DETAILS However, second quarter operating loss was US$13.2 billion compared to an operating income of US$197 million in the prior year period, including a US$12.4 billion non-cash impairment charge related to VillageMD goodwill.

THE WHY? Chief Executive Officer, Tim Wentworth, explains, “We’re encouraged by our first quarter of US Healthcare positive adjusted EBITDA and continued topline growth alongside another quarter of strong execution in pharmacy, as we look to re-energize and evolve its impact both at Walgreens and at large. As we continue to operate in a challenging retail environment, we are taking actions to focus on customer engagement and value.

“We remain confident in our goal of achieving US$1 billion in cost savings this year. We are continuing to strategically review our portfolio over the next three months in an effort to ensure it drives growth and delivers value. Our team members, led by WBA’s new executive committee with a track record of operational excellence, are powering our progress as we map growth opportunities, aim to create long-term value across our businesses and execute the hard work to simplify and strengthen WBA.”