Walgreens Boots Alliance Faces Profit Decline Amidst COVID Sales Shrinkage
Walgreens Boots Alliance reported its fiscal year 2023 earnings, with a loss per share of $3.57 compared to earnings per share of $5.01 in the previous year. The company's fourth-quarter sales increased 9.2% year-over-year to $35.4 billion. Walgreens Boots Alliance appointed Tim Wentworth as its new CEO and announced planned cost reductions of at least $1 billion. The company expects to see the impact of these actions in fiscal 2024.