Reported 11 months ago
Walgreens Boots Alliance reduced its profit forecast for fiscal 2024 and announced the closure of underperforming U.S. stores due to weak consumer spending affecting retail operations. The company's CEO, Tim Wentworth, initiated a comprehensive restructuring plan involving store closures, executive changes, and cost-cutting measures. Walgreens also adjusted its dividend, facing challenges like inflation impacting sales and reimbursement pressures, with prospects of more store closures anticipated into fiscal 2025.
Source: YAHOO