Walgreens Sales Up But Profits Down

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Walgreens Sales Up But Profits Down

07/06/2016

Profits of $1.1 billion were down 15.4 percent from the same period last year, even though sales of $29.5 billion were up 2.4 percent from last year and beat analysts’ estimates. Pharmacy sales, which constitute about two-thirds of company revenues, rose 6 percent, while front-end sales were up only 0.1 percent (but still better than last quarter’s decline of 0.3 percent). Pharmacy sales outside the U.S. were down 2.3 percent, in large part because of pending cuts in reimbursement from Great Britain’s National Health Service.