Reported 9 months ago
Walgreens Boots Alliance shares plummeted to a nearly three-decade low, resulting in a potential loss of over $5 billion in value. The company announced a significant multiyear program of store closures, which includes reducing its global headcount, slashing its regular dividend, and focusing on its core retail pharmacy business due to inflation and prescription reimbursements. Walgreens aims to optimize its U.S. outlets and has experienced declines in retail sales, while its shares declined by 24.9% in mid-day trading.
Source: YAHOO