Changes in US stocks | Walgreens and Bosch (WBA.US) surged more than 18% and plans to close about 1,200 stores within 3 years

The Zhitong Finance App learned that on Tuesday, Walgreens and Bosch (WBA.US) surged more than 18% intraday. As of press release, it had risen 13.11% to $10.18. According to the news, Walgreens and Bozi exceeded expectations for the fourth fiscal quarter of fiscal year 2024 and announced plans to optimize the business layout. The goal is to close about 1,200 stores within the next three years, including about 500 stores in fiscal year 2025, which will immediately increase the adjusted earnings per share and free cash flow.

The company's Q4 revenue grew 6.1% at a fixed exchange rate, reflecting sales growth across all divisions. Comparable sales in the US retail pharmacy business increased 8.3% over the same period last year. At a fixed exchange rate, adjusted operating profit fell 38% to US$424 million compared to the same period last year, reflecting weak US retail and pharmacy performance, offsetting incentive accruals and a reversal of last year's sale-leaseback earnings, and partly offsetting cost savings plans and increased profitability in the US healthcare sector. Adjusted earnings per share were $0.39, compared to the prevailing market expectation of $0.36 compared to $0.67 for the same period last year.