THE WHAT? Walgreens Boots Alliance has reported its outcomes for the second quarter of fiscal 2024. The pharmacy proprietor noticed gross sales enhance 6.3 p.c year-on-year to US$37.1 billion, (+5.7 p.c on a relentless foreign money foundation).
THE DETAILS Nevertheless, second quarter working loss was US$13.2 billion in comparison with an working revenue of US$197 million within the prior yr interval, together with a US$12.4 billion non-cash impairment cost associated to VillageMD goodwill.
THE WHY? Chief Govt Officer, Tim Wentworth, explains, “We’re inspired by our first quarter of US Healthcare optimistic adjusted EBITDA and continued topline progress alongside one other quarter of sturdy execution in pharmacy, as we glance to re-energize and evolve its influence each at Walgreens and at giant. As we proceed to function in a difficult retail setting, we’re taking actions to give attention to buyer engagement and worth.
“We stay assured in our objective of reaching US$1 billion in price financial savings this yr. We’re persevering with to strategically overview our portfolio over the subsequent three months in an effort to make sure it drives progress and delivers worth. Our staff members, led by WBA’s new govt committee with a monitor file of operational excellence, are powering our progress as we map progress alternatives, purpose to create long-term worth throughout our companies and execute the arduous work to simplify and strengthen WBA.”
