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Walgreens Boots Alliance Expected To Close 25% Of Stores, But Financial Benefit Visible Only Next Year-Analyst

On Thursday, Walgreens Boots Alliance Inc (NASDAQ: WBA) reported third-quarter fiscal year 2024 sales of $36.35 billion, up 2.6% year over year (+2.5% on constant currency), beating the consensus of $36 billion. Walgreens Boots Alliance has cut its fiscal year 2024 adjusted EPS guidance to $2.80-$2.95, compared to prior guidance of $3.20-$3.35 and consensus of $3.22. As the earnings fell short of Wall Street estimates, the pharmacy chain revealed it would close a “significant” number of stores in the face of “headwinds.” The disappointing earnings report caused shares to tumble as much as 25%. Analyst reactions: Barclays maintains the Underweight rating and lowers the price target from $15 to $11, stating Walgreens Boots Alliance cut its fiscal year 2024 EPS ...