Health
Walgreens Tightens Outlook as Shoppers Cut Back Spending
- Company cites tough retail environment for updated guidance
- The chain is on track for $1 billion in cost savings, CEO says
This article is for subscribers only.
Walgreens Boots Alliance Inc. narrowed its fiscal 2024 guidance citing a challenging retail environment, including reduced consumer spending.
Consumers are spending less on nonessential items and seeking more affordable options, Chief Financial Officer Manmohan Mahajan said on a call with investors. Mahajan also said the company saw a weaker-than-normal respiratory season.