By Grace Bowden2019-06-27T14:41:00
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”.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.