Walgreens profits rose 86 percent in fourth-quarter

By Bizclik Editor

The September edition of the Business Review USA is now live!

The largest U.S. drugstore retailer, Walgreens Co., says it fourth-quarter profit rose 86 percent after its consumer-loyalty card helped to boost sales.

Walgreens net income increased to $657 million from $353 million in the same quarter last year. 

CEO, Gregory Wasson used data from loyalty-card holder purchase to improve the selection of merchandise that is at the front of Walgreen’s stores. Sales advanced 4.6 percent in locations have been open at least one year.

Read related content:

“While customer traffic remains challenged, we believe we are starting to see the benefit of Balance Rewards,” Deborah Weinswig, an analyst at Citigroup Inc. in New York, wrote in a note today. She recommends buying Walgreen shares.

Excluding items, the company earned 73 cents per share. Analysts were expecting 72 cents per share, according to Thomson Reuters.

Sales rose 5.1 percent to $17.94 billion; a tad shy of the $17.95 billion that analysts had projected.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI