Walgreens profit falls 22% in 4th quarter

Published October 25, 2017
Reuters

Oct 25 (Reuters) - U.S. drugstore company Walgreens Boots Alliance Inc's ((NASDAQ:WBA) profit fell 22 percent in the fourth quarter, hurt mainly by a more than $300 million fee it paid Rite Aid Corp after their failed attempt to merge.

Net income attributable to Walgreens fell to $802 million or 76 cents per share in the quarter ended Aug. 31, from $1.03 billion, or 95 cents per share, a year earlier.

Revenue rose 5.3 percent to $30.15 billion.

Walgreens, in June, abandoned its deal to buy Rite Aid after failing to get approval from regulators. Walgreens instead struck a deal to buy nearly half of its smaller rival's U.S. stores. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Sai Sachin Ravikumar)