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Walgreens gross sales miss expectations after weak chilly and flu season 

Walgreens Boots Alliance Inc.

reported fiscal second-quarter internet earnings of $1.03 billion, or $1.19 per share, up from $946.0 million, or $1.07 per share final yr. Adjusted EPS of $1.40 beat the FactSet consensus for $1.10 per share. Gross sales of $32.78 billion have been up from $31.34 billion final yr however under the FactSet consensus for $36.59 billion. Comparable gross sales within the U.S. fell 3.5% because of a weak cough, chilly and flu season. Comp gross sales for Boots UK fell 17.9% as COVID-19 restrictions diminished foot site visitors on main excessive streets and transportation hubs. “Total, now we have achieved a superb monetary quarter with outcomes effectively forward of expectations, regardless of important impacts from COVID-19, and now we have raised our full-year EPS steerage,” mentioned Walgreens’ new Chief Government Roz Brewer in a press release. The previous Starbucks Corp.

govt assumed the position on March 15. “I’m optimistic about our skill to drive sustainable, long-term worth for our shareholders, whereas acknowledging that there’s nonetheless work to be executed to stabilize the bottom enterprise.” Walgreens raised its fiscal 2021 adjusted EPS steerage to mid-to-high single digit development in fixed forex from low single-digit development. The pharmacy retailer additionally expects the $6.5 billion divestiture of Alliance Healthcare to be full earlier than the tip of the fiscal yr. Walgreens says it has administered eight million COVID-19 vaccinations and performed 5 million COVID-19 assessments. Walgreens inventory rose 2.6% in Wednesday premarket buying and selling and have gained 15.8% over the previous yr. The S&P 500 index

is up 53.2% for the final 12 months.

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