Walgreens Boots Alliance’s Q1 sales slump amid economy headwinds
Company suffers net loss of $3.3 billion for past nine months in place of $4.6 billion net income in same period last year
Walgreens Boots Alliance Inc., (WBA) a leading global pharmacy and retai l company, recently released its unaudited consolidated condensed statements of earnings for the three months and nine months ended May 31, 2023. The financial report reveals a challenging period for the company, as it experienced a decline in sales and a significant loss in earnings. This article will delve into the financial performance of Walgreens Boots Alliance Inc. and analyze the factors contributing to its current situation.
Sales Performance:
During the nine months ended May 31, 2023, Walgreens Boots Alliance Inc. reported sales of $103.7 billion, a modest increase compared to the same period in the previous year, which recorded sales of $100.3 billion. The company witnessed a gradual growth in sales, primarily driven by increased demand for healthcare and pharmacy services. However, the three months ended May 31, 2023, saw a decline in sales to $35.4 billion, compared to $32.6 billion in the corresponding period in 2022.
