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Walgreens Boots Alliance Inc. (WBA+1.68%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing reports sales of $39.5 billion for the quarter, an increase from $36.7 billion in the same quarter the previous year. The increase in sales was driven by growth in pharmacy sales, offset by a decrease in retail sales.
The company reported a gross profit of $6.8 billion, consistent with the previous year's quarter. However, selling, general, and administrative expenses increased slightly to $7.0 billion from $6.9 billion in the previous year.
Walgreens Boots Alliance recorded an operating loss of $245 million for the quarter, compared to an operating loss of $39 million in the same quarter the previous year. This increase in operating loss was attributed to costs associated with the Footprint Optimization Program and lower retail sales.
Net loss attributable to Walgreens Boots Alliance was $265 million, compared to a net loss of $67 million in the previous year. The net loss per share was $0.31, compared to $0.08 in the previous year.
The company reported cash and cash equivalents of $1.3 billion as of November 30, 2024, a decrease from $3.2 billion as of August 31, 2024. This decrease was primarily due to debt repayments and capital expenditures.
Walgreens Boots Alliance announced the continuation of its Footprint Optimization Program, which includes plans to close approximately 900 to 1,000 stores primarily across the U.S. by the end of fiscal 2027.
The company sold shares of BrightSpring Health Services for approximately $129 million during the quarter, as part of its strategy to monetize non-core assets.
Walgreens Boots Alliance's U.S. Retail Pharmacy segment reported sales of $30.9 billion, with pharmacy sales increasing by 10.4% and retail sales decreasing by 6.2%.
The International segment reported sales of $6.4 billion, an increase of 10.2% from the previous year, driven by strong performance in Boots UK and the Germany wholesale business.
The U.S. Healthcare segment reported sales of $2.2 billion, an increase from $1.9 billion in the previous year, driven by growth in VillageMD and Shields Health Solutions.
The company continues to focus on strategic initiatives, including cost control measures and the potential sale of VillageMD businesses, to improve financial performance and liquidity.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Walgreens Boots Alliance Inc. quarterly 10-Q report dated January 10, 2025. To report an error, please email earnings@qz.com.