Latest news with #VillageMD
Forbes
6 days ago
- Business
- Forbes
Walgreens Outlook Improves As Buyout Faces Shareholder Vote Next Month
News that Walgreens Boots Alliance quarterly loss was better than expected and pharmacy sales were ... More rising bodes well for a financial turnaround under new ownership, analysts said after the company's June 26, 2025 earnings report. In this photo is a sign outside a Walgreens store in San Pablo, California, US, on Tuesday, Oct. 15, 2024. Photographer: David Paul Morris/Bloomberg News that Walgreens Boots Alliance quarterly loss was better than expected and pharmacy sales are rising bodes well for a financial turnaround under new ownership. Under future owner Sycamore Partners, analysts expect cost-cutting to escalate once the private equity firm's $10 billion purchase of Walgreens is complete before the end of this calendar year. One of the first major hurdles is a vote of shareholders at a special meeting on July 11. But there's been no serious opposition that has emerged to the purchase by Sycamore, which is paying $11.45 per share — 29% above the December stock price. Sycamore also agreed to 'one non-transferable right" to receive up to $3 in cash per Walgreens share 'from the future monetization of WBA's debt and equity interests in VillageMD, which includes the Village Medical, Summit Health and CityMD businesses,' the companies said of Walgreens' primary care businesses. Walgreens reported a net loss of $175 million, or 20 cents a share, in the company's fiscal third quarter ended May 31 compared to net income of $344 million, or 40 cents a share, in the year-ago period. Total sales rose 7% to $39 billion in its third quarter. Walgreens chief executive officer Tim Wentworth highlighted what he called 'continued improvement' in the company's U.S. Healthcare segment, that includes Village Medical, Summit and CityMD. The U.S. healthcare segment, which reported $2.1 billion in third quarter sales, reported an operating loss of $64 million, which was much improved over the operating loss of $220 million in the year-ago quarter, 'reflecting lower acquisition-related amortization and higher contributions from VillageMD risk-based business,' Walgreens said. Meanwhile, analysts were impressed with Walgreens ability to produce 'positive free cash flow in the quarter, a key positive given recent negative free cash flow trends,' Ann Hynes and colleagues at Mizuho Securities USA wrote in a report Thursday. 'WBA continues to expect Sycamore Partner's acquisition of the company to close in either the third of fourth quarter of calendar year 2025.' The Sycamore deal comes after Walgreens, which had a market value of more than $100 billion a decade ago, undertook the failed VillageMD in-store clinic rollout that led it to close hundreds of stores to reduce debt and stem financial losses. Wentworth said Walgreens is benefiting from 'cost savings initiatives' that include closing underperforming stores. Walgreens is on pace to meet its goal of closing 1,200 stores by its fiscal 2027. The company, which operates about 8,000 U.S. stores, has closed a little more than 400 stores in the first nine months of its fiscal year ended May 31 and said it would close 500 in this fiscal year. Walgreens third quarter results were much improved over its second quarter when the company in March reported a $2.8 billion loss thanks to a large impairment charge related to its struggling doctor-staffed clinic investment in VillageMD. Analysts who follow Walgreens see the move to private ownership as another plus because the company and a stock price attached to public ownership will no longer be subject to the whims of Wall Street. 'By making the move to go private, Walgreens will have the time for reinvention, something not possible as a public company chasing quarterly numbers," said Dave Mayer, Senior Partner at the brand consultancy Lippincott.
Business Wire
7 days ago
- Business
- Business Wire
Walgreens Boots Alliance Reports Fiscal 2025 Third Quarter Results
1 These charges are recorded in Selling, general and administrative expenses and Impairment of goodwill within the Consolidated Condensed Statements of Earnings. The Company excludes these charges when evaluating operating performance because it does not incur such charges on a predictable basis and exclusion of such charges enables more consistent evaluation of the Company's operating performance. Impairment of goodwill, intangibles, and long-lived assets recognized in the nine months ended May 31, 2025 resulted from the interim goodwill impairment assessments for the VillageMD, U.S. Retail Pharmacy, and CareCentrix reporting units, as well as the intangible asset impairment for the Boots reporting unit and impairment of certain multi-year internal software development projects within the U.S. Retail Pharmacy segment. Impairment of goodwill, intangibles, and long-lived assets recognized in the nine months ended May 31, 2024 resulted from the interim goodwill impairment assessment for the VillageMD reporting unit and impairment of certain multi-year internal software development projects within the U.S. Retail Pharmacy segment. 2 Acquisition-related amortization includes amortization of acquisition-related intangible assets and stock-based compensation fair valuation adjustments. Amortization of acquisition-related intangible assets includes amortization of intangible assets such as customer relationships, provider networks, trade names, trademarks, developed technology and contract intangibles. Intangible asset amortization excluded from the related non-GAAP measure represents the entire amount recorded within the Company's GAAP financial statements. The revenue generated by the associated intangible assets has not been excluded from the related non-GAAP measures. Amortization expense, unlike the related revenue, is not affected by operations of any particular period unless an intangible asset becomes impaired, or the estimated useful life of an intangible asset is revised. These charges are primarily recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. The stock-based compensation fair valuation adjustment reflects the difference between the fair value based remeasurement of awards under purchase accounting and the grant date fair valuation. Post-acquisition compensation expense recognized in excess of the original grant date fair value of acquiree awards are excluded from the related non-GAAP measures as these arise from acquisition-related accounting requirements or agreements, and are not reflective of normal operating activities. 3 Certain legal and regulatory accruals and settlements relate to significant charges associated with certain legal proceedings, including legal defense costs. The Company excludes these charges when evaluating operating performance because it does not incur such charges on a predictable basis and exclusion of such charges enables more consistent evaluation of the Company's operating performance. These charges are recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. 4 Footprint Optimization charges are costs associated with a formal restructuring plan. These charges are primarily recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. These costs do not reflect current operating performance and are impacted by the timing of restructuring activity. 5 Acquisition and disposition-related costs are transaction and integration costs associated with certain merger, acquisition and divestitures related activities recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. Examples of such costs include deal costs, severance, stock-based compensation, employee transaction success bonuses, and other integration related exit and disposal charges. These costs are significantly impacted by the timing and complexity of the underlying merger, acquisition and divestitures related activities and do not reflect the Company's current operating performance. In the three and nine months ended May 31, 2025, the Company recorded professional services and other transaction-related expenses of $15 million and $50 million, respectively, related to the merger agreement with Blazing Star Parent, LLC. As part of the amendment to the VillageMD Secured Loan executed in the three months ended November 30, 2024, Walgreen Co. and VillageMD agreed to terminate certain intercompany leases resulting in an early termination charge of $107 million incurred by VillageMD within the U.S. Healthcare segment and a corresponding gain recognized within the U.S. Retail Pharmacy segment. The impacts of the intercompany lease termination eliminate in consolidation. 6 Adjustments to equity earnings in Cencora consist of the Company's proportionate share of non-GAAP adjustments reported by Cencora consistent with the Company's non-GAAP measures. Adjustments are recorded to Equity earnings in Cencora within the Consolidated Condensed Statements of Earnings. 7 The Company's U.S. Retail Pharmacy segment inventory is accounted for using the last-in-first-out ('LIFO') method. This adjustment represents the impact on Cost of sales as if the U.S. Retail Pharmacy segment inventory is accounted for using first-in first-out ('FIFO') method. The LIFO provision is affected by changes in inventory quantities, product mix, and manufacturer pricing practices, which may be impacted by market and other external influences. Therefore, the Company cannot control the amounts recognized or timing of these items. These charges are recorded in Cost of sales within the Consolidated Condensed Statements of Earnings. 8 Transformational Cost Management Program charges are costs associated with a formal restructuring plan. These charges are primarily recorded in Selling, general and administrative expenses within the Consolidated Condensed Statements of Earnings. These costs do not reflect current operating performance and are impacted by the timing of restructuring activity. 9 Total non-cash impairment charges for goodwill and long-lived assets that were adjusted from Operating income (loss) were $115 million and $5.8 billion in the three and nine months ended May 31, 2025, respectively. Total non-cash impairment charges for goodwill and long-lived assets that were adjusted from Operating income (loss) were $23 million and $13.6 billion in the three and nine months ended May 31, 2024, respectively. 10 Includes fair value gains or losses on the VPF derivative contracts and gains on VPF settlements. These charges are recorded in Other income (expense), net, within the Consolidated Condensed Statements of Earnings. The Company does not believe this volatility related to the non-cash mark-to-market adjustments and associated settlement gains or losses on the underlying derivative instruments reflects the Company's operational performance. 11 Gains on the sale of equity method investments are recorded in Other income (expense), net within the Consolidated Condensed Statements of Earnings. The Company excludes these charges when evaluating operating performance because these do not relate to the ordinary course of the Company's business. 12 Includes significant gains resulting from the change in classification of equity securities as well as the fair value adjustments recorded on investments in equity securities to Other income (expense), net, in the Consolidated Condensed Statements of Earnings. In the three and nine months ended May 31, 2025, the Company recorded pre-tax gains of $10 million and $135 million related to the change in classification of its previously held equity method investment in BrightSpring to an investment in equity security held at fair value and subsequent related fair value adjustments. 13 Includes gains or losses related to the sale of businesses. These charges are recorded in Other income (expense), net, within the Consolidated Condensed Statements of Earnings. The Company excludes these charges when evaluating operating performance because these do not relate to the ordinary course of the Company's business. 14 Includes interest expense on certain multi-year litigation settlements and interest expense on external debt to fund incremental contributions to the Boots Plan required to complete the Trustee's acquisition of a bulk annuity policy (the 'Buy-In') from Legal & General. The payments and related incremental interest expense are not indicative of normal operating performance. 15 Adjustments to income tax provision (benefit) include adjustments to the GAAP basis tax provision (benefit) commensurate with non-GAAP adjustments and certain discrete tax items including U.S. and UK tax law changes and equity method non-cash tax. These charges are recorded in Income tax provision (benefit) within the Consolidated Condensed Statements of Earnings. 16 Adjustments to post-tax earnings (loss) from other equity method investments consist of the proportionate share of certain equity method investees' non-cash items or unusual or infrequent items consistent with the Company's non-GAAP adjustments. These charges are recorded in Post-tax earnings (loss) from other equity method investments within the Consolidated Condensed Statements of Earnings. Although the Company may have shareholder rights and board representation commensurate with its ownership interests in these equity method investees, adjustments relating to equity method investments are not intended to imply that the Company has direct control over their operations and resulting revenue and expenses. Moreover, these non-GAAP financial measures have limitations in that they do not reflect all revenue and expenses of these equity method investees. 17 In the three months ended November 30, 2024, the Company and VillageMD executed an amendment to the VillageMD Secured Loan that consolidated certain VillageMD obligations to the Company, modified certain interest and fee terms, and provided VillageMD with additional borrowing capacity. These intercompany credit facilities eliminate in consolidation. The Company applies the legal claim approach to the attribution of intercompany transactions to non-controlling interests. The amendment of the VillageMD Secured Loan increased the Company's claim on VillageMD's net assets resulting in a pre-tax non-controlling interest benefit. The amendment and related one-time benefit to the Company are not indicative of normal operating performance. 18 Due to the anti-dilutive effect resulting from periods where the Company reports a net loss, the impact of potentially dilutive securities on the per share amounts has been omitted from the calculation of weighted-average common shares outstanding for diluted net loss per common share. 19 Includes impact of potentially dilutive securities from unvested stock-based compensation programs in the calculation of weighted-average common shares, diluted for adjusted diluted net earnings per common share calculation purposes. For the three months ended May 31, 2025, this impact of potentially dilutive securities in the calculation of weighted-average common shares was approximately 4 million shares. Excluding the impact of potentially dilutive securities, weighted-average basic and diluted common shares outstanding were approximately 865 million shares.
Yahoo
19-06-2025
- Health
- Yahoo
Healthy Interactions Expands Primary Care Alliance to Improve Cardiometabolic Care
JACKSON HOLE, Wyo., June 18, 2025 /PRNewswire/ -- Healthy Interactions LLC, a global leader in experiential education for healthcare professionals and patients with cardiometabolic diseases, is accelerating its efforts to transform primary care with the expansion of the Healthy Interactions Primary Care Alliance. This Healthy Interactions Primary Care Alliance aims to enhance standards of care and clinical outcomes for patients with cardiometabolic conditions, with a particular focus on obesity. Through innovative Practice and Patient Obesity Virtual Conversation Map® programs, plus AI—the Alliance supports both healthcare professional and patient education. Currently, over 2,000 forward-thinking primary care practices have joined the Alliance, unified by a commitment to improving diagnosis, treatment adherence, and outcomes. Today, Healthy Interactions is pleased to announce that VillageMD, a national leader in value-based primary care, will join the Alliance and adopt Healthy Interactions' educational programs across hundreds of its practices nationwide. This collaboration represents a strategic opportunity for both organizations to advance their shared mission of improving care for patients with cardiometabolic conditions across America. "We are thrilled to build on our global success in improving care and outcomes for millions of patients with diabetes by expanding our obesity education programs for both primary care practices and patients," said Paul Lasiuk, CEO & Co-founder of Healthy Interactions. "Together, VillageMD and Healthy Interactions aim to improve diagnosis rates, increase care plan adherence, and drive better outcomes for people living with obesity." About Healthy InteractionsHealthy Interactions LLC is a global leader in experiential education programs focused on cardiometabolic health. The organization is known for its Conversation Map® platform, which blends visual learning with Socratic dialogue to engage patients meaningfully. In addition to its in-person and virtual education tools, Healthy Interactions is also expanding its impact through the development of AI-powered platforms designed to support healthcare professionals and patients in managing chronic conditions more effectively. With a presence in 129 countries and over 50 million lives impacted, Healthy Interactions continues to raise the bar in both healthcare professional and patient education. To learn more, please visit Media Contact:Shelly LeonardEmail: Sleonard@ Executive Contact:Paul LasiukCEO & Co-founder, Healthy InteractionsEmail: paullasiuk@ View original content: SOURCE Healthy Interactions, Inc Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
20-05-2025
- Business
- Business Wire
Summit Health Announces Internalization of Genomic Testing Cooperative State-of-The-Art Next Generation Sequencing DNA and RNA Profiling Tests for Tissue and Liquid Biopsy of Solid Tumors and Hematologic Neoplasms
LAKE FOREST, Calif. & WOODLAND PARK, N.J.--(BUSINESS WIRE)-- Summit Health, part of Village MD and Genomic Testing Cooperative (GTC), the global leader in RNA innovation, are excited to announce today the launch of a newly established next generation sequencing service at the Summit Health laboratory in Woodland Park, NJ to offer comprehensive DNA and RNA profiling of solid tumors and hematologic neoplasms. The internalized GTC testing menu includes tissue and bone marrow-based DNA and RNA next generation sequencing of hematologic neoplasms and solid tumors. Summit Health will now offer GTC's peripheral blood and CSF-based liquid biopsy, Liquid Trace. This revolutionary liquid biopsy assay analyzes cell free DNA and RNA (cfDNA and cfRNA) for hematologic neoplasms and solid tumors. This testing provides Summit/Village MD clinicians with a comprehensive precision diagnosis and monitoring tools to deliver state-of-the-art precision care for their patients. By running the tests locally in-house, Summit Health will reduce their send-out burden to multiple labs, standardize collection of data, shorten turn-around time and have the opportunity to participate in R&D, clinical trials and the development of IP. As a member of the GTC Co-Op group, Summit Health will gain access to cutting-edge scientific capabilities, access to a pipeline of innovation in diagnostics, and proprietary technology and datasets for R&D. "We are very thrilled to partner with GTC in internalizing and adopting their comprehensive portfolio of tissue and liquid biopsy tests for hematologic neoplasms and solid tumors. We believe that this testing is currently essential for the practice of precision medicine,' said Dr. Gordana Katava, DO, Chief of Pathology and Laboratory Medicine, Summit Health/Village MD. Dr. Maher Albitar, Founder, CEO and Chief Medical Officer at GTC, stated, 'We are excited to add Summit and Village MD physicians to our Co-Op network. GTC was established on the promise of democratizing genomic science and next generation sequencing. This partnership is a step forward toward achieving our goal,' Dr. Albitar added. 'The Co-OP model is not only standardizing next generation sequencing, but also providing ecosystem for cooperation, sharing knowledge and AI-based software, and reducing cost of internalizing NGS.' About Summit Health Summit Health, which is a part of VillageMD, helps patients with all their comprehensive primary care and multi-specialty care needs. Whether it's getting annual checkups, raising a family, or prioritizing healthy aging, Summit Health works as a team to deliver care that helps patients make the right choices and stay a step ahead of any issues. Summit Health offers high-quality connected care services covering nearly every medical specialty including orthopedics, urology, dermatology, cardiology, gastroenterology, and more. When patients need urgent care, they can visit Summit Health's urgent care partner, CityMD, which has 180+ locations throughout N.Y. and N.J. Together, Summit Health and CityMD are one connected care team. About GTC Genomic Testing Cooperative [GTC], the global leader in RNA innovation, is a privately owned molecular testing company located in Lake Forest, California. Since its inception in 2018 GTC has been focused on facilitating the acceleration of access to NGS enabled precision medicine in Oncology through innovative science and differentiated business models and practices and has grown through the realization of these strategies to become a leading partner/provider in the Oncology NGS space helping healthcare organizations to tackle the biggest problems in Next Generation Sequencing for Oncology today. Forward Looking Statements All the statements, expectations and assumptions contained in this press release are forward-looking statements. Such forward-looking statements are based on GTC and Summit Health management's current expectations and include statements regarding the value of Molecular profiling, testing, therapy, and the ability of testing to provide clinically useful information. All information in this press release is as of the date of the release, and Summit Health or GTC undertake no duty to update this information unless required by law.
Yahoo
31-01-2025
- Business
- Yahoo
As Walgreens Looks to Save Cash, Suitor Sycamore Seeks Funding
(Bloomberg) -- Walgreens Boots Alliance Inc.'s chairman and biggest shareholder, Stefano Pessina, has dealmaking in his DNA. Yet finding a deal to rescue the drugstore empire he built is proving difficult. How the 2025 Catholic Jubilee Is Reshaping Rome Manhattan's Morning Commute Time Drops With New Congestion Toll Trump Paves the Way to Deputize Local Police on Immigration Housing Aid Uncertain After Trump's Spending Freeze Memo Trump's Federal Funding Pause Threatens State Financials When the Italian-born Pessina, 83, merged his Alliance Boots with the US pharmacy giant in 2014, it marked a crowning moment in a decades-long campaign to construct a pharmacy colossus. The rewards ended up being short-lived. The stock hit an all-time high in 2015, but then spent most of the next nine years on a long slide. On Thursday, shareholders suffered another blow when Walgreens said it was suspending its quarterly dividend, which it had paid for 92 years. The company said it needed to conserve cash. The stock fell as much as 17% on Friday. Investors have been hoping that an agreement to take the company private will come together — and give Walgreens space to repair the business. Private equity firm Sycamore Partners has been speaking with private credit firms about debt financing for a potential Walgreens deal, according to people familiar with the matter, despite an earlier report that takeover talks had stalled. There's no certainty that a deal will be reached. Spokespeople for Walgreens and Sycamore declined to comment for this article. For years, Walgreens made moves that seemed to compound the pain it was already facing because of industrywide pressure on prescription reimbursement rates and competition in the front of the store from online retailers like Inc. Most notably, it embarked on an expensive foray into patient care in July 2020 with VillageMD. Walgreens pumped money into the business with the idea of creating one-stop shopping for seeing the doctor and picking up prescriptions, but it has ended up with little to show for it. Sycamore, which is best known for making complexly structured investments in struggling retailers and consumer companies, could seek a pact in which health units like VillageMD are sold. The firm could also refinance Walgreens' debt so it is attached to certain units and not the entire company, some of the people said. There are several factors that could make putting a takeover together challenging, though. Walgreens, with a market value Friday of around $8.8 billion, has about $8 billion in debt and another $22 billion in lease obligations. And it is also on the hook for billions of dollars in settlement payments tied to opioid litigation. 'It is not clear how an LBO or a takeout could really put a bunch of debt on this asset and still make a good return, or still be viable,' said Bloomberg Intelligence analyst Jonathan Palmer, referring to a leveraged buyout. Still, Sycamore has found success turning around retailers that were already buckling under their own debt. When Sycamore agreed to buy office-supply retailer Staples in 2017, it split the financing into three pieces. It raised debt for the company's stronger wholesale division and then spun off the US and Canadian retail operations into separate entities. By 2020, Sycamore had already recouped roughly 80% of the equity it had put up as part of the deal. Walgreens has explored going private previously. In 2019, KKR & Co. approached it about a potential deal that would then have been the largest-ever leveraged buyout. The talks, spearheaded by Pessina, then serving as CEO, eventually fell apart. Seeking Fixes Walgreens tapped Tim Wentworth in October of 2023 to help turn the company around. In early 2024, he said the company was 'evaluating all strategic options' as it looked to cut costs and increase cash flow. Wentworth and other executives met with bankers who pitched ideas for improving the company's financial health, according to people familiar with the deliberations. Walgreens has long faced questions about why it didn't pursue the route taken by rival CVS Health Corp., which spent years remaking itself into a health-care conglomerate by acquiring the pharmacy-benefit manager Caremark as well as insurer Aetna. Walgreens draws more than three-quarters of its revenue from its US pharmacy and retail business, which makes missteps in its stores costly. Putting items in display cases to prevent theft, for example, has had a chilling effect in the checkout line. 'When you lock things up,' Wentworth told investors this month, 'you don't sell as many of them. We've kind of proven that pretty conclusively.' Still, some of Walgreens' most pressing challenges lie outside its core business. Under previous CEO Rosalind Brewer in 2021, the company launched a new health-care strategy intended to make it 'a leading provider of local clinical care services,' according to a filing with regulators. Brewer doubled down on Pessina's investment in VillageMD, taking a majority stake and planning to open hundreds more clinics. A year later, Walgreens sunk more money into that project to help facilitate VillageMD's buyout of Summit Health-CityMD, a medical practice and chain of urgent-care centers. VillageMD meanwhile was hemorrhaging more cash than Walgreens had anticipated, and it wasn't clear how much more funding would be needed for it to ultimately become profitable. 'It's clear it just hasn't worked out,' Jeff Jonas, a portfolio manager at Gabelli Funds, an investor in Walgreens, said of the original VillageMD investment. 'With a fair amount of debt and concerns around their balance sheet, they just can't fund those losses anymore.' The moves left Walgreens with a jumble of businesses that burned cash. Brewer abruptly stepped down after fewer than three years as CEO in 2023. The next year, Walgreens wrote down $5.8 billion of its VillageMD investment. Banker Pitches Early last year, rumors were swirling at the JPMorgan Healthcare Conference that private equity firms were evaluating whether to buy out Walgreens. At the same time, the company was evaluating moves around some of its individual businesses. Walgreens hired Centerview Partners to explore a potential sale of Shields Health Solutions, its specialty pharmacy unit. It reversed course several weeks later, people familiar with the matter said. As the year wore on, Wentworth, who had been CEO of Express Scripts when the pharmacy benefits manager sold itself to insurer Cigna Group in 2018, and John Driscoll, a senior adviser who was previously the president of Walgreens's health care division, solicited more turnaround ideas from Wall Street. The executives asked investment bankers from more than half a dozen different firms, including JPMorgan Chase & Co., Goldman Sachs Group Inc., Lazard Inc. and Centerview, to pitch potential moves. Some bankers suggested refinancing debt, selling assets, closing stores and finding a private equity firm to take the company private, among other ideas, the people said. Spokespeople for JPMorgan, Goldman, Lazard and Centerview declined to comment. As word got out that Walgreens might be open to a deal, enterprising investment bankers called up their favorite private equity clients and offered to help them finance a buyout, if desired. Several private equity firms lobbed in lowball offers for Walgreens, people familiar with the matter said. None of those conversations got very far, in part because none were seen as attractive enough for Walgreens. Walgreens also gauged interest in a potential equity infusion for VillageMD but found no takers, according to the people. Evaluating Options By the summer, Walgreens had decided to focus on a turnaround. According to people familiar with the discussions, the goal was to minimize the effect of VillageMD on the rest of the business and potentially refinance debt. Walgreens has been considering various strategic options for VillageMD, including a sale or restructuring, according to an August filing with the Securities and Exchange Commission. A sale of VillageMD is seen as the best possible outcome, according to people familiar with the matter, who said Walgreens wants to avoid unsettling suppliers. Earlier this month, the clouds over Walgreens looked like they might be starting to part, as it reported better-than-expected quarterly pharmacy sales. That led to the biggest single-day gain in Walgreens shares in decades. But it was only weeks later that management would go on to cut the dividend. --With assistance from Paula Seligson, Jill R. Shah, John Tozzi and Crystal Tse. Indy Pass, the Anti-Vail Seasonal Ski Ticket, Is Gaining Fans The Internet Almost Killed Barnes & Noble, Then Saved It What America's Tech Billionaires Really Bought When They Backed Donald Trump Musk Pitches New Narrative as Tesla Sales Fall Forget Factories, Small US Towns Want Buc-ee's Gas Stations ©2025 Bloomberg L.P. Sign in to access your portfolio
