Walgreens beats fiscal 4Q forecasts, absorbs UK business hit

By TOM MURPHY
AP Health Writer

Walgreens Boots Alliance topped earnings forecasts in the final quarter of fiscal 2022, and the drugstore chain’s early look at 2023 also fell mostly above expectations. A drop in COVID-19 vaccinations and a big charge tied to the company’s United Kingdom stores weighed on results, but shares edged up early Thursday after Walgreens detailed its performance. Overall, the company booked a $415 million loss in the quarter that ended Aug. 31, as sales slid 5% to $32.45 billion. Walgreens Boots Alliance Inc. runs a network of around 13,000 drugstores globally. Most of its locations are in the United States.