Reported 9 months ago
Walgreens (WBA) saw its stocks drop by up to 20% in pre-market trading after slashing its full-year profit guidance and reporting an adjusted earnings miss in the third quarter. The company's CEO, Tim Wentworth, addressed the challenges faced by the pharmacy chain, including pressure from investors due to lack of revenue guidance and restructuring strategies. With a focus on shifting business models and facing pressures from PBMs, Walgreens is adapting to a changing operational landscape, which includes reevaluating their healthcare services. The article discusses the impact on Walgreens' financial projections, the decision to retain their Boots business, planned store closures, and the broader challenges faced by the pharmacy industry.
Source: YAHOO