![]() The forecast cut also hit shares of Rite Aid (RAD.N) and larger rival CVS Health (CVS.N) Walgreens' shares closed at $28.64, hitting their lowest in more than 11 years, after the company slashed its profit forecast for the year. "Similar to other retailers, we've been impacted by the rapid softening of the macro environment and a more cautious and value-driven consumer," Walgreens CEO Rosalind Brewer told investors. ![]() The end of the COVID emergency in May led to a steep drop in COVID vaccines and testing, Walgreens executives said, while penny-pinching customers hunted for discounted items, shunning normal-priced consumer health products. June 27 (Reuters) - Walgreens Boots Alliance (WBA.O) on Tuesday warned that lower spending by inflation-weary consumers and a hit from a larger-than-expected drop in COVID-19 product sales would likely persist into next year, sending its shares down by 9%.
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