WMT - Investor Optimism Dampens as Walgreens Boots Alliance Struggles With Market Turbulence | Benzinga
Walgreens Boots Alliance Inc. (NASDAQ:WBA) is facing tumultuous times as it grapples with a challenging turnaround, leading to a drastic decline in its stock value, marking its worst performance in over five years.
The company’s shares plummeted by 18% in April, nearing a 26-year low, following a downward revision of its outlook.
This revision was accompanied by concerns over decreased consumer spending and the revelation of a substantial unpaid tax liability amounting to $2.7 billion, adding to the woes of the beleaguered drugstore chain.
In March, Walgreens Boots Alliance reported second-quarter fiscal year 2024 earnings and narrowed the fiscal year 2024 adjusted EPS guidance to $3.20-$3.35 versus prior guidance of $3.20-$3.50