Thursday, June 27, 2019

Walgreens retail falters on lower tobacco sales

Retail Dive
Walgreens Boots Alliance on Thursday reported that third quarter sales rose 0.7% (2.9% in constant currency) to $34.6 billion, thanks mostly to its U.S. pharmacy and wholesale pharmacy operations. Retail sales in the quarter fell 2.9% year over year, reflecting store closures after the acquisition of Rite Aid stores, according to a company press release.

Comparable retail sales fell 1.1% in the quarter, primarily due to a de-emphasis of tobacco, the drugstore retailer said.. . . more