Walgreens Boots Alliance has released its Q1 2020 results, revealing sales to have reached $34.3 billion, an increase of 1.6 percent from the year-ago quarter.
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Net earnings decreased 24.8% to $845 million compared with the same quarter a year ago. Net earnings per share decreased 19.8% to $0.95 compared with the same quarter a year ago.
Adjusted net earnings decreased 11.8% to $1.2 billion and adjusted earnings per share were $1.37, a decrease of 6.0% compared with the same quarter a year ago.
Retail sales saw a 2.2% decrease compared with fiscal year 2019. Comparable retail sales were down 0.5 percent in the quarter, mostly due to continued de-emphasis of tobacco.
Excluding tobacco and e-cigarettes, comparable retail sales increased around 0.8%, which reflects solid growth in the core health and wellness and beauty categories. Flagship No7 beauty brand saw sales growth in the mid teens in the U.S.