Walgreens Boots Alliance Share News

Head of Boots pharmacy chain reportedly will depart as owner Walgreens struggles.

Walgreens shares plunged after the company lowered its EPS guidance. The company has been experiencing severe drug reimbursement pressures, hurting margins and profitability.

Walgreens Boots Alliance stock fell hard after the company reported fiscal third-quarter results on June 27. Management has lowered its earnings expectations twice this year.

The tech stock ended June trading with a 2024 gain of 188%, while the pharmacy chain has fallen 54%.

Walgreens (NASDAQ: WBA) has experienced a significant decline in 2023, with shares down over 55% year-to-date, trading at levels last seen in 1998.

After years of a downtrend in their price, shares of Walgreens Boots Alliance Inc. NASDAQ: WBA have thrown in the towel this time. In a single day, the stock is down over 25% in a sign that can't be taken in any other way than a ‘run' message.

Walgreens is one of the most celebrated names in the retail pharmacy space, boasting innovation and convenience for its customers. However, in its latest earnings report, the company announced a tough financial environment and outlook, citing “a worse-than-expected U.S. consumer environment.

Boots chain CEO Sebastian James quit as CEO after owner Walgreens Boots Alliance's plans for a 5 billion pound ($6.32 billion) sale or stock market listing of the company stalled, Sky News reporter Mark Kleinman said in a post on X on Saturday.