Management continues to lower expectations.Shares of pharmacy Walgreens Boots Alliance (WBA -23.85%) fell as much as 25.4% in trading on Thursday after reporting fiscal third-quarter 2024 results. Shares are still down 24.7% at 3 p.m. ET.Weaker than expected resultsManagement said revenue was up 2.6% to $36.4 billion, and net income nearly tripled to $344 million, or $0.40 per share. The big change was earnings guidance for the full year being cut from a range of $3.20 to $3.35 down to a range of $2.80 to $ ...

Challenges in the retail environment and the pharmacy industry have led Walgreens Boots Alliance to consider closing as many as 25% of its U.S. retail stores.These Walgreens stores do not contribute to the firm’s adjusted operating income, and the company expects that a “significant portion” of these underperforming stores will be closed over the next three years, Walgreens Boots Alliance CEO Tim Wentworth said Thursday (June 27) during the company’s quarterly earnings call.For the remainder of those underp ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Loading...Loading...CVS Health Corp CVS shares are getting crushed because of the terrible earnings report from Walgreens Boot Alliance. Inc. WBA. Some investors fear CVS may experience some of the same issues that drove Walgreens lower.It isn't a coincidence CVS found support right around the important $57.60 level. And it’s not surprising either. It's an illustration of an important market dynamic that savvy traders use to profit. This is why it's our Stock of the Day.The best traders don't guess. They le ...

HONG KONG, CHINA - 2024/06/21: In this photo illustration, the American pharmacy chain Walgreens ... [+] (NASDAQ: WBA) logo seen displayed on a smartphone with an economic stock exchange index graph in the background. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesWalgreens recently reported its Q3’24 results (fiscal ends in August), with revenue exceeding but earnings falling short of our expectations. The company reported revenue of $ ...

Walgreens on Thursday said it could shutter up to a quarter of its more than 8,600 US locations amid plunging retail sales as inflation-battered shoppers cut back on spending.The struggling drug store chain, which closed 150 US locations last year, cut its profit forecast ahead of reporting its quarterly earnings — sending the company’s stock plummeting by nearly 25% in mid-day trading.Walgreens CEO Tim Wentworth, who took over the 123-year-old company in October, cited “persistent pressures on the US consu ...

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Q3 2024 Earnings Conference Call June 27, 2024 8:30 AM ET Company Participants Tiffany Kanaga - VP of IR Tim Wentworth - CEO Manmohan Mahajan - Global Chief Financial Officer Mary Langowski - President, U.S. Healthcare Rick Gates - SVP and Walgreens Chief Pharmacy Officer Tracey Brown - President, Walgreens' Retail and Chief Customer Officer Conference Call Participants Lisa Gill - JPMorgan Charles Rhyee - TD Cowen Eric Percher - Nephron Research Ann Hynes - Mizuh ...

Walgreens (NASDAQ:WBA) stores will be closing as the company’s CEO announces that “imminent” changes need to happen at the struggling pharmacy chain.According to CEO Tim Wentworth, Walgreens has continued to have trouble courting customers as they are resistant to current prices. This comes as inflation is weighing on the economy and causing consumer spending to fall.As a result, Wentworth claims that Walgreens will be looking over its stores to see which ones to close. He claims that 75% of the company’s s ...

A slew of economic data is served to us this morning. Not only our usual Weekly Jobless Claims, but also Durable Goods, the final revision to Q1 GDP and an earnings report from a household American retailer. We’ll see Pending Home Sales out after the opening bell today (expected to moderate from the big dip a month ago). Upon these reports having been released, pre-market indices have improved slightly but remain in the red: the Dow -45 points, the S&P 500 -2 and the Nasdaq -25 points.Initial Jobless Claims ...

Key TakeawaysWalgreens Boots Alliance's third-quarter profit fell short of estimates, and the company cut its outlook because of what it called a "difficult operating environment."The big pharmacy chain and healthcare provider also planned changes to its U.S. Healthcare segment and said it would close "certain underperforming stores."Shares of Walgreens fell to levels not seen since 1997. Walgreens Boots Alliance (WBA) shares crashed to their lowest level since 1997 on Thursday as the big pharmacy chain and ...