Reported about 1 year ago
Walgreens Boots Alliance experiences a 24% stock drop as the CEO mentions a challenging consumer environment and a pullback in discretionary spending. The retailer attributes the reduced profit outlook to consumers becoming more selective and price-sensitive, prompting price cuts across categories. The pharmacy chain's struggles align with national trends, indicating a cautious consumer climate influenced by factors like inflation and interest rates. Analysts predict similar challenges for CVS and other retailers.
Source: YAHOO