Walgreens Boots Alliance on Thursday said its quarterly sales declined and profits got hit by waning Covid-19 vaccination demand, heavy investments in its health care business and an opioid settlement with Florida.
Shares were down by about 4% in morning trading.
The drugstore chain stood by its full-year forecast, saying it expects adjusted earnings per share to grow by the low single-digits. It pointed to rebounding store traffic and more online traffic. And it said investing in health care, such as opening doctor offices at stores, will pay off in the future.
With inflation hitting consumers’ wallets, CEO Roz Brewer said Walgreens is working with suppliers to make sure it has lower…