"Significantly lower demand for COVID-related services, a more cautious and value-driven consumer, and a recently weaker respiratory season created margin pressures in the quarter," said CEO Rosalind Brewer.
"Our revised guidance takes an appropriately cautious forward view in light of consumer spending uncertainty, while still demonstrating clear drivers of a return to operating growth next fiscal year," she added. "We are raising our cost savings program target to $4.1 billion and taking immediate actions to optimize profitability for our U.S. Healthcare segment."
Walgreens Sits at a Crossroads as Its Reduced Profit Outlook Disappoints
Walgreens Stock Slides After Q3 Earnings Miss, Sharply Lower 2023 Profit Forecast
ENOUGH IS ENOUGH yet?