Pharmacy retail giant Walgreens Boots Alliance saw its net sales for the second quarter of the year increase by 13.6 per cent to $30.2 billion, the company has announced.
However, foreign-currency translation adversely impacted sales to the tune of $750 million in the quarter, or 2.4 per cent.
The group’s international division, which includes the Boots brand in the UK, Thailand, Norway, the Republic of Ireland and the Netherlands, saw sales increase by 2.3 per cent, led by growth chiefly in the UK and Ireland.
Comparable retail sales for the division increased 2.1 per cent in the quarter compared with the same period a year ago.
"I am pleased with how we are working across the company to transform our businesses and position ourselves for success in rapidly changing markets," said company chief executive Stefano Pessina.
"In addition, we continued to make good progress in the quarter in reducing costs and establishing more efficient working practices, which contributed to overall adjusted earnings growth. Looking ahead, we remain on track to achieve our expectations for this fiscal year, as we work to mitigate lower pharmacy reimbursement rates and challenging retail sales environments."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
