Boots owner Walgreens Boots Alliance has today forecast a lower-than-estimated profit for financial year 2024 due to a sharp drop in sales of Covid-19 tests, vaccines and treatments.
Walgreens' lower forecast comes at a time when the company tries to tackles multiple challenges.
These challenges include persistently weak prescription drug demand, reported walkouts by its pharmacy staff and a shift in focus towards integrated health services.
The second-largest US pharmacy chain operator, whose financial year ends in August, has forecast an annual adjusted profit of $3.20 to $3.50 per share.
This compared to analysts' average estimate of $3.72 per share, according to LSEG data.
