Cost Containment Gives Walgreens a Decent Fourth Quarter, Rite Aid Acquisition Still Under Review
Gross margins once again retrenched for Walgreens (dropping 24 basis points to 24.99%) as the firm faces pricing pressure for its pharmacy operations and tries to drive front-end sales through discounting. Impressively, the firm was able to offset these headwinds by executing on its cost-containment plan. The firm’s centralized costs as a percentage of revenue fell 117 basis points to 21.12%, which boosted operating margins by 105 basis points to 3.98%. We believe this is a highly positive trend...Walgreens Boots Alliance is a holding company. Through its subsidiaries, the company is engaged in retail and wholesale pharmacy. The company's operations are organized into three divisions, which are also its reportable segments: Retail Pharmacy USA; Retail Pharmacy International; and Pharmaceutical Wholesale. The Retail Pharmacy USA division has pharmacy-led health and beauty retail offerings. The Retail Pharmacy International division has pharmacy-led health and beauty retail businesses. The Pharmaceutical Wholesale division, which mainly operates under the Alliance Healthcare brand, supplies medicines, other healthcare products and related services to pharmacies, doctors, health centers and hospitals.
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