WBA Stock Recent News
WBA LATEST HEADLINES
I initially pitched a short on Walgreens with a price target of $8.35, but the stock reached that target faster than expected. WBA's Q4 earnings call showed a clear commitment to a turnaround, especially with management putting a focus on its core retail pharmacy business and planning to close 1,200 unprofitable stores. I believe WBA stock has bottomed out and am upgrading my rating to Hold, but I'm not willing to upgrade further until a more careful review of the company's 10-K.
Retail pharmacy giant Walgreens Boots Alliance (NASDAQ:WBA) was on a long downward slide long before 2024 began.
Every once in a while, a major brand name and its stock's existence are challenged. Often, the price action and the threatening state of the company are justified, and the business does end up going under.
Walgreens Boots is currently going all out to reform its pharmacy model by aggressively liquidating its unprofitable stores and businesses.
Walgreens is targeting to close approximately 1,200 stores over the next three years, with 500 of those closures happening in the 2025 fiscal year, the drugstore company told Fast Company.
It isn't easy to be positive on the struggling company's prospects.
Walgreens Boots Alliance, Inc. (NASDAQ:WBA ) Q4 2024 Earnings Call Transcript October 15, 2024 8:30 AM ET Company Participants Tiffany Kanaga - VP of Global IR Tim Wentworth - CEO Manmohan Mahajan - Global CFO Mary Langowski - President, US Healthcare Conference Call Participants Lisa Gill - JPMorgan Ann Hynes - Mizuho Group George Hill - Deutsche Bank Charles Rhyee - TD Securities Eric Percher - Nephron Research Kevin Caliendo - UBS Elizabeth Anderson - Evercore ISI Michael Cherny - Leerink Partners Stephanie Davis - Barclays Operator Good day, ladies and gentlemen. Thank you for standing by.
Walgreens reports better-than-expected earnings and revenues in the fourth quarter of fiscal 2024.
Walgreens Boots Alliance is undertaking a transformation focused on its retail pharmacy business in response to persistent challenges in the consumer market and pharmacy sector. As part of this strategy, the company plans to close approximately 1,200 underperforming stores in the next three years to streamline operations and increase profitability.
Investors are applauding the pharmacy retailer's plan to close many of its unprofitable stores.