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Hits & Misses From Walgreens Q4 Report Plus Jenny Craig Relationship

By John F. Heerdink, Jr.

Walgreen Boots Alliance (WBA), a relatively recent addition to the Dow 30, is a pharmacy-led, health and wellbeing enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates.

Walgreens Boots Alliance’s reported its fiscal Q4 profit recently, with numbers dropping by 55% amid shuttered and unprofitable locations, scaling back its tobacco sales, and laying off employees.

Some more numbers from the earnings release:

• EPS of $1.43 was reported, exceeding estimates at $1.41.
• Revenue of $33.95 billion was earned vs. $33.89 billion expected.
• Net income slid 55% to $677 million or 75 cents per share much below $1.51 billion, or $1.55 per share a year earlier.
• Walgreens’ U.S. retail pharmacy business increased by 2.1% to $26 billion.
• Comparable store sales of nonpharmacy products declined by 1.2%.
• Shares of the company rose 0.7%, closing at $55.80.

Walgreens expects to cut more than $1.8 billion by the fiscal year 2022, an increase from the previously announced $1.5 billion. Reportedly, the company shut 200 Walgreens stores in the U.S. and 200 Boots stores in the U.K. The company also laid off an undisclosed number of corporate employees last week, as per reports.

Following the release, Walgreens announced a partnership with weight-loss company Jenny Craig to launch 100 Jenny Craig locations inside Walgreens stores in January. However, some analysts remained skeptical about the partnership bringing in much help for Walgreens.

To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.

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Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Walgreens’ earnings top expectations while store closures, layoffs weigh on profitability in CNBC)


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