Walgreens Boots Alliance Q2: sales beat expectations as COVID-19 gets tills ringing

Walgreens Boots Alliance Q2: sales beat expectations as COVID-19 gets tills ringing

THE WHAT? Walgreens Boots Alliance has received a considerable boost from the COVID-19 pandemic, as sales beat expectations in the second quarter of the current financial year.

THE DETAILS Prior to the pandemic, the company was on track to maintain fiscal 2020 guidance of roughly flat growth but the second quarter saw the business perform ahead of expectations with sales up 3.7 percent to US$35.8 billion.

“We are pleased to report second quarter results exceeding our expectations, with sequential improvement in comparable US prescription volume and retail sales,” said Executive Vice Chairman and CEO Stefano Pessina. “During these unprecedented times of global uncertainty, Walgreens Boots Alliance is on the front lines of combating the COVID-19 pandemic. Our number one priority is to continue to provide essential services, products and information at this critical moment of need, demonstrating our unwavering commitment to our customers and patients, and to our people.”

THE WHY? With drugstores classed as essential retailers and OTC drugs such as paracetamol in high demand, sales for the previously ailing pharmacy channel have been brisk over the last two months.

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