Walgreens Boots Alliance has recorded a decline its third-quarter profits as the performance of its international arm was dragged down by Boots’ falling sales.
The health and beauty titan posted an 11.7% fall in adjusted operating income to $1.7bn in the three months to May 31, 2019, though sales increased 0.7% to $34.6bn.
The retail group’s international division posted a 1.6% decline in sales to $2.8bn on a constant currency basis, primarily due to a 1% fall in sales at Boots.
Boots’ like-for-like retail sales dropped 2.6%, however, it was “broadly gaining retail market share amid weakness in certain categories”.
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