DEERFIELD (AP) — Walgreens beat fourth-quarter earnings expectations with an assist from some recently acquired Rite Aid stores, and the nation’s largest drugstore chain started fiscal 2019 with a largely better-than-expected outlook.
But sales from established U.S. stores grew only slightly.
Walgreens said Thursday that it expects fiscal 2019 earnings to range from $6.40 to $6.70 per share.
In the fiscal fourth quarter, Walgreens Boots Alliance Inc. net income jumped 88 percent to $1.51 billion compared to last year’s quarter, when costs tied to a previous Rite Aid deal attempt weighed on results.
Overall sales from stores opened at least a year increased less than 1 percent in the quarter but sales in the front end, or the area outside the pharmacy, fell again.