Walgreens Reports $180 Million Loss Ahead Of New CEO Taking Over

Walgreens Boots Alliance reported a $180 million loss in the company’s fiscal fourth quarter thanks in part to “significantly lower COVID-19 vaccine and testing volumes,” the company said Thursday.

Walgreens net loss in the fourth quarter ended Aug. 31 was $180 million compared to a net loss of $415 million in the year-ago quarter. The earnings report comes less than 36 hours after the drugstore giant confirmed former Express Scripts and Cigna executive Tim Wentworth would be Walgreens new CEO. Wentworth begins Oct. 23.