The company said it was hurt in part by significantly lower COVID-19 vaccine and testing sales.
In a statement to NBC Chicago Tuesday, a spokesperson for the company confirmed that 150 stores are expected to close by the end of August in 2024.The news comes as Waglreens slashed its earnings forecast for the year and raised a cost-cutting goal after missing analyst profit expectations in its fiscal third quarter.Sign up for NBC San Diego newsletters.
Shares of the drugstore chain tumbled early Tuesday after the company said it was hurt in part by significantly lower COVID-19 vaccine and testing sales. Walgreens now expects full-year adjusted earnings to range from $4 to $4.05 per share. That's down from a previous forecast range of $4.45 to $4.65 per share. It's also well below Wall Street expectations.
Analysts forecast adjusted earnings of $4.44 per share for the fiscal year, which ends in August, according to FactSet.
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