Walgreens forecasts 2021 profit growth after fourth-quarter earnings beat

REUTERS: Drugstore chain Walgreens Boots Alliance Inc said on Thursday it expects profit to grow in single digits in 2021 after posting a better-than-expected fourth-quarter profit, helped by higher sales at U.S. pharmacies.Advertisement

The company said it expects strong adjusted profit growth in the second half of 2021, as impact of the COVID-19 pandemic subsides, and supported by its recovery plans. Last quarter, the company suffered a significant decline in footfall in its UK-based retail pharmacies, and resorted to store closures, job cuts and suspension of share repurchases.

Same-store sales at the company's retail pharmacy division in the United States rose 3.6per cent from a year earlier. Excluding items, Walgreens earned US$1.02 per share, beating analysts' expectations of 96 cents per share.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

More US companies delay return to the office - to summer of 2021, amid coronavirus outbreakNEW YORK (NYTIMES) - When the coronavirus pandemic shuttered offices around the United States in March, many companies told their employees that it would be only a short hiatus away from headquarters.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

TSMC third-quarter profit surges 36per cent, beating market forecastsTaiwan Semiconductor Manufacturing Co Ltd (TSMC) reported a 35.9per cent jump in quarterly net profit, boosted by robust demand for products ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »