Declines in Walgreens’ front-of-store retail sales continued in Q3, falling 5.3% year over year, due largely to store closures and lower same-store sales. The drugstore retailer last year announced it would shutter 1,200 U.S. stores over three years. Weak sales in grocery and household, health and wellness, and beauty drove store comps down 2.4%. The international and U.S. healthcare segments fared better, helping drive a 7.2% overall Q3 sales increase to $39 billion. Any sense of Walgreens’ prospects is getting cloudier as the retailer prepares to be acquired by private equity firm Sycamore Partners.
Read the full article: Walgreens Swings to a Loss Ahead of Sycamore Acquisition //
Source: https://www.healthcaredive.com/news/walgreens-loss-sales-declines-sycamore-private-equity-acquisition/751755/