S&P Global Ratings downgrades Walgreens, citing struggles in both pharmacy and retail

Quick Summary:

The drugstore retailer faces debt maturities, and the upending of some strategies introduces new uncertainties, analysts said.

This coming November, Walgreens faces $1.4 billion in maturities, mostly U.S.bonds.Another $2.8 billion comes due in fiscal 2026 and $1.8 billion in fiscal 2027.

The company is struggling in its retail business as well as its pharmacy operations, they said in a Friday client note.In the U.S., margins are taking a hit on the pharmacy side from reimbursement pressure and on the retail side from declining sales volume and higher shrink.

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Article Details

Author / Journalist: Daphne Howland

Category: EconomyBusiness

Markets: United States

Topics: Strategic Year Last Fiscal Zhang Company Billion Large Walgreens Iyer Analysts

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-22 @ 12:03:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 707 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Retail Dive

News ID: 21732689

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