Shares of Walgreens Boots Alliance (WBA) wrapped up Thursday’s trading day with a gain of 4.5 percent, making it TheStreet’s Move of the Day. On Thursday, the company reported fiscal third quarter earnings per share of $1.02, that’s a 23 percent increase from last year, beating estimates of $0.87. Revenue came in at $28.8 billion, a 48 percent increase, but fell short of the $29.6 billion analysts were looking for. Now as part of Walgreens’ merger with European drugstore company Alliance Boots late last year, the company has been cutting costs to the tune of $1.5 billion over the next few years. During the quarter, nine stores closed and about 80 are expected to shut down by the end of its fiscal year. Comparable store sales, an important industry metric that tracks sales in stores open for more than a year, rose 6.3 percent over the past 12 months, while comparable pharmacy sales, which represents two-thirds of the drugstore’s overall sales, rose 9.3 percent. Meanwhile, the company said acting CEO Stefano Pessina will officially take the top job.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
