Walgreens Posts Impressive Sales and Profitability Growth in Q2 2024
Sales and Profitability Increases, and a Double Beat
For its fiscal second quarter of 2024, Walgreens booked over $37 billion in sales, a 6% improvement over fiscal 2023. Non-GAAP earnings edged up to $1.20 per share, easily beating consensus estimates of $0.82.
Focus on Cost Savings and Asset Review
Walgreens aims to save $1 billion in costs this year and is strategically reviewing its asset portfolio. The company plans to shut more than 160 VillageMD outlets to boost profitability.
Full-Year Profitability Guidance Adjustment
Walgreens revised its full-year fiscal 2024 profit guidance to $3.20 to $3.35 per share, citing a challenging retail environment and other factors.
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