The nation’s largest drug store chain topped analysts’ expectations in its fourth quarter despite a 22% drop in profit related to break-up fees over its abandoned Rite Aid deal.
Walgreens Boots Alliance’s earnings dropped 22% to $802 million in
the quarter ended Aug. 31. Earnings were impacted by more than $300
million in termination fees and costs related to the company’s drawn-out
acquisition of rival Rite Aid Corp., which it called off in June amid
regulatory concerns. Walgreens went on to enter a deal to purchase 1,932
stores from Rite Aid, or nearly half the chain.. . . more