Walgreens reports $265 million loss but sees early progress in turnaround efforts

Walgreens Boots Alliance reported a $265 million loss for its fiscal first quarter ending November 30, 2024. This is a significant increase from a $67 million loss in the same period last year. The company is focused on a turnaround strategy. Sales rose 7.5% to $39.5 billion, driven by a 6.6% increase in U.S. retail pharmacy sales. However, retail sales in stores fell over 6% due to a weaker cough and cold season. Walgreens is reducing its stake in Cencora and optimizing its store footprint to improve cash flow. The U.S. Healthcare segment saw sales growth, narrowing operating losses to $325 million from $436 million a year earlier.