WBA - Walgreens CEO: 'we will beat Amazon'

2024-03-29 08:21:57 ET

Tim Wentworth – the chief executive of Walgreens Boots Alliance Inc (NASDAQ: WBA) says his company offers a customer experience that’s “unmatched”.

What sets apart from competition?

Speaking with Jim Cramer on Mad Money last night, Wentworth confirmed that Walgreens delivers more than 80% of the online orders within one hour.

He gave the due credit to Amazon for setting the bar up and making push for one-hour delivery. But it’s not all that differentiates the multinational, as per its chief executive.

We’ll beat Amazon because of human interface … where you can come in if you’re getting a drug you want to talk about, you have a health concern, you want an OTC to go along with your drug.

Walgreens stock is currently down close to 20% versus the start of 2024.

Is Walgreens stock worth buying?

CEO Tim Wentworth made the aforementioned remarks only hours after Walgreens reported its financial results for the second quarter that topped Street estimates.

Still, Brian Tanquilut – a Jefferies analyst reiterated his “hold” rating on a day earlier and trimmed his price objective to $19 which suggests another 12% downside from here.

Tanquilut expects the weaker consumer environment to remain a headwind for the company’s financial performance.

SG Americas Securities LLC also revealed to have unloaded over 87,000 shares of Walgreens Boots Alliance Inc in the fourth quarter. Walgreens stock, however, pays a healthy dividend yield of 4.61% at writing.

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