trending Market Intelligence /marketintelligence/en/news-insights/trending/Ikwf24aasxLhLWtjr6WLLQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Walgreens Q1'20 prescription growth falters

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Walgreens Q1'20 prescription growth falters

Slower-than-expected U.S. prescription growth pulled down Walgreens Boots Alliance Inc.'s first-quarter results Jan. 8, pushing the pharmacy chain's shares down more than 5%.

Prescriptions filled in comparable stores rose 2.8% during the quarter ended Nov. 30, below the 4% that Walgreens had budgeted internally, Executive Vice President and CFO James Kehoe told analysts during a call Jan. 8.

"I think the only real surprise we had in the first quarter was on script volume," Kehoe said. "It did come in weaker than we expected."

Results for December, which Walgreens will report as part of its second-quarter results, are better, he added, declining to provide a specific growth figure.

For Walgreens to meet its 2020 guidance, prescription growth will need to be between 3.5% and 4.5% in the coming quarters, Kehoe said. December's prescription growth is "in excess" of that rate, he said.

Shares of Walgreens fell 5.6% to $55.95 in morning trading Jan. 8 after the retailer's adjusted EPS and net income for the quarter missed analysts' expectations. Retail sales in the U.S. and the U.K., which each declined by more than 2%, also weighed on the chain's results during the quarter.

Walgreens has turned to partnerships with players in the retail and healthcare space in recent years. Such partnerships have become even more important to the company's strategy since rival CVS Health Corp. bought health insurer Aetna Inc. in 2018.

Walgreens "nailed one of the first steps" in such a partnership with grocer The Kroger Co. when it said that the two companies would join forces on procurement in December 2019, Kehoe said Jan. 8. In the past year, Walgreens has piloted grocery order pickup for Kroger at some of its stores, and the two retailers sell a limited selection of each others' products.

"When you put together the two consumer sets, we serve together around 20 million customers a day between us," Walgreens Co-COO Alexander Gourlay said during the Jan. 8 call, adding that the partnership spans food, pharmaceuticals and beauty products. "We believe that's going to be a strong opportunity."

Executives did not mention private equity firm KKR & Co. Inc.'s reported interest in a deal to take Walgreens private.