Walgreen Boots shares fall as revenue falls below expectations

Walgreen Boots shares fall as revenue falls below expectations

Shares for the Walgreen Boots alliance dropped this week after quarterly revenues failed to meet analyst estimates, with the company posting a 2.4 percent increase to $29.5 billion, short of the $29.7billion expected.

Shares fell 2.4 percent to $81.55 on Wednesday, with the company said to be bowing to pressure to reduce prices and offer lower drug costs. Indeed, sales of convenience products such as toothpaste, make-up, soap and food declined.

The company is working on remodelling stores with a more attractive cosmetics area in a bid to engage more healthy and active female consumers, which are seen to be the biggest purchasing decision maker within families.

A similar model was adopted by competitor CVS before abandoning the plans.

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