Walgreens shares tumbled early Thursday after the drugstore chain signaled that more store closings are on the way, missed earnings expectations for its third quarter and cut its annual forecast. The company said it was finishing a multiyear plan to shutter some underperforming U.S. stores, but it didn’t detail how many were targeted. Walgreens and major competitors like CVS and Rite Aid — which is going through a bankruptcy reorganization — have already closed hundreds of stores over the past few years.
Walgreens Woes Continue With Earnings Miss, Guidance Cut And Plans To Shutter More Stores
Tom Murphy, Chicago Tribune: Business
Thu, 06/27/2024 - 6:10am
Topics: cvs rite aid walmart amazon villagemd chief executive tim wentworth wentworth walgreens boots alliance inc states factset august march leerink partners michael cherny deerfield illinois u.s walgreens analysts continue earnings shutter stores guidance cut company share quarter adjusted care shares challenges forecast fiscal locations grow include results years revenue billion cents
BING NEWS:
- Walgreens Stock Sinks 22% on Plan to Close Stores, Cut to Financial Guidance
Earnings missed analysts’ estimates. The CEO said “the current pharmacy model is not sustainable, and the challenges in our operating environment require we approach the market differently.” ...
06/27/2024 - 9:32 am | View Link - Walgreens plans store closures, cuts fiscal 2024 earnings guidance
Walgreens will close some stores in the U.S., CEO Tim Wentworth said this week as he tries to right the fortunes of the flagging pharmacy giant.
06/27/2024 - 5:24 am | View Link - Walgreens woes continue with earnings miss, guidance cut and plans to shutter more stores
Walgreens is finalizing a plan to fix its business that could result in the closure of hundreds of additional stores in the next three years ...
06/27/2024 - 2:49 am | View Link - Walgreens Woes Continue With Earnings Miss and Plans to Shutter More Stores
missed earnings expectations for its third quarter and cut its annual forecast. The company said it was finishing a multiyear plan to shutter some underperforming U.S. stores, but it didn’t detail how ...
06/27/2024 - 2:02 am | View Link - Walgreens woes continue with earnings miss; plans to shutter significant number of stores
missed earnings expectations for its third quarter and cut its annual forecast. The company said a quarter of U.S. stores are underperforming and it plans to shutter a significant number of them ...
06/26/2024 - 10:06 pm | View Link - More
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