Reported 1 day ago
Walgreens has shown signs of improvement in its Q1 earnings, posting a revenue of $39.5 billion, a 7.5% increase year-over-year, despite reporting a net loss of $265 million, larger than last year's loss. The company is undergoing significant restructuring, including a $1 billion cost-cutting initiative and plans to close 1,200 stores to enhance profitability. Although Walgreens continues to face challenges in the retail pharmacy sector, it remains optimistic about future profitability as it renegotiates contracts with insurers for more stable reimbursements.
Source: YAHOO