"Challenges Ahead: Walgreens' 2024 Earnings Outlook and VillageMD Bet Impact"
TL;DR Summary
Walgreens Boots Alliance reported second quarter revenue of $37.05 billion, beating expectations, but also a net loss of $6 billion due to the decline in the value of its investment in VillageMD. The company cited a challenging retail environment and narrowed its 2024 earnings outlook. The new leadership is focusing on scaling back and rightsizing the company, with a shift towards a back-to-basics focus on pharmacy.
Topics:business#2024-outlook#business-finance#earnings#retail-environment#revenue#walgreens-boots-alliance
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- Walgreens Narrows Earnings Guidance in ‘Challenging’ Retail Environment Barron's
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