Walgreens reports strong Q1 earnings, with revenue up 7.5%, despite plans to close 1,200 stores.

Walgreens reported better-than-expected first-quarter earnings, with a revenue increase of 7.5% to $39.5 billion and adjusted earnings per share of 51 cents, surpassing analysts' forecasts. Despite a $265 million loss due to its store closure plan, the company is moving forward with plans to close around 1,200 U.S. stores as part of its turnaround strategy. Walgreens reaffirmed its forecast for fiscal 2025, expecting adjusted earnings per share between $1.40 and $1.80. Shares surged over 16% in premarket trading.

2 months ago
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