Walgreens Boots Alliance FY2017: sales nudge up 3.3 percent but Rite Aid fees hit earnings

Walgreens Boots Alliance FY2017: sales nudge up 3.3 percent but Rite Aid fees hit earnings

Walgreens Boots Alliance has reported its results for the fourth quarter, and full financial year. In the final three months of fiscal 2017, the retail group saw sales rise 5.3 percent (6.4 percent in constant currency terms), but net earnings per share were down 20 percent, hit by hefty merger termination fees for the failed Rite Aid deal.

Overall, the full year saw sales remain flat, up 0.7 percent (3.3 percent in constant currency) to reach US$118.2 billion, while net earnings were down 2.3 percent – again, attributed to Rite Aid related costs.

“We are pleased to report the company has performed well, with our businesses delivering significant progress while managing against ongoing prescription reimbursement pressure and competing in fast-changing retail environments. We look forward to building on this solid underlying growth in the year to come, enhanced by the expansion of our US retail pharmacy network through the upcoming purchases of Rite Aid stores,” said Stefano Pessina, Executive Vice Chairman and CEO.

 

Leave a reply

Your email address will not be published. Required fields are marked *