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Walgreens Boots Alliance, Inc. (WBA)

  • Jun. 30, 2014, 10:16 AM
    • Ohio Governor John Kasich has issued an emergency order in Ohio to allow select Rite Aid (RAD +0.8%) pharmacies to administer the MMR vaccine.
    • The state of Ohio has had an outbreak of over 300 cases of measles and more than 400 reported incidents of mumps.
    • What to watch: The entry of drugstore operators (WAG, CVS) into more essential healthcare services is a significant part of the growth story in the sector.
  • Jun. 25, 2014, 8:14 AM
    | Comment!
  • Jun. 24, 2014, 9:05 AM
    • Walgreen (WAG) felt pressure on pharmacy margins during FQ3 (earnings, details) with third-party reimbursements lower.
    • Though the forecast for cost savings from the company's merger with Alliance Boots was pushed higher, visibility on the integration is still cloudy with key decisions still hanging in the balance. A potential tax inversion move tops the list.
    • Walgreen pulled its 2016 guidance and put investors into a waiting period until later this summer for more clarity.
    • WAG -2.2% premarket
  • Jun. 24, 2014, 7:44 AM
    • Walgreen (WAG) reports total comparable-store sales rose 4.8% in FQ3.
    • Customer traffic was down 0.7%, while the average basket size increased 2.9%.
    • Comps for the front-end of the store rose 2.2% during the period.
    • The company's gross margin rate fell 40 bps to 28.1%.
    • Combined synergies for Walgreens and Alliance Boots were $367M for the first three months of the fiscal year.
    • WAG -2.5% premarket
  • Jun. 24, 2014, 7:33 AM
    • Walgreen (WAG): FQ3 EPS of $0.91 misses by $0.03.
    • Revenue of $19.4B (+6.0% Y/Y) misses by $80M.
    • Press Release
  • Jun. 23, 2014, 5:30 PM
  • Jun. 18, 2014, 7:26 AM
    • Barclays upgrades Walgreen (WAG) to Overweight from Equalweight.
    • The integration of Alliance Boots into Walgreen and the potential for a tax inversion transaction give analysts plenty of meat to chew on.
    • The investment firm has a $92 price target on shares.
    • WAG +3.1% premarket ti $75.38.
  • Jun. 11, 2014, 7:48 AM
    • A new report forecasts Walgreen (WAG) could save $4B in federal taxes over the next five years by relocating its headquarters to Switzerland.
    • Though some large shareholders are pushing for the company to make the tax inversion move, the action could also cause a major public relations backlash with Walgreen bringing in a quarter of its revenue from Medicare and Medicaid.
    • A decision on the issue is expected by the end of the summer.
  • Jun. 4, 2014, 8:13 AM
    • Walgreen (WAG) reports sales increased 6% Y/Y to $6.57B in May.
    • Comparable-store sales were 4.4% higher during the month, led by a 5.5% gain in the prescription sales comp.
    • Customer traffic in comparable stores fell 0.5% for the period, while the average basket size increased by 3.1%.
    • WAG +0.3%
    | Comment!
  • May 19, 2014, 12:05 PM
    • Walgreen (WAG +2.2%) moves higher after weekend reports indicate the company is considering buying Alliance Boots outright.
    • Hedge funds Och Ziff, Jana Partners, and Corvex have been pressing the company to maximize the Alliance Boots investment.
    • More in Walgreen-Alliance Boots: Synergies piling up, inversion plan on the table
    | 1 Comment
  • May 18, 2014, 4:07 AM
    • Walgreen (WAG) is thinking about buying the 55% in European peer Alliance Boots it doesn't own, The Sunday Times reports.
    • Taking inspiration from Pfizer in its pursuit of AstraZeneca, Walgreen would then move its domicile to the U.K. or Switzerland in order to lower its tax rate and save billions of dollars a year.
    • Walgreen purchased 45% of Boots in 2012 in a cash-and-stock deal worth $6.7B and has a three-year option to acquire the rest.
  • May 15, 2014, 9:22 AM
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  • May 12, 2014, 11:02 AM
    • A plan by Pfizer to acquire AstraZeneca in a move that could help the company lower corporate taxes puts a spotlight back on Walgreen (WAG +0.9%) to make a similar move.
    • Hedge funds have been pressing the board at Walgreen to back a relocation as part of its integration of Alliance Boots.
    • Speed is of the essence with politicians in Washington D.C. making noise about relocation "inversions" deals.
  • May 8, 2014, 7:20 PM
    • FedEx (FDX) is changing the way it charges to ship bulky packages; instead of charging by weight alone, all ground packages soon will be priced according to size, which effectively will raise prices on more than a third of its U.S. ground shipments.
    • Such a move would greatly affect bulky but lighter weight items like toilet paper and diapers, but the changes also would profoundly affect Web retail shoppers, who often buy multiple clothing or footwear items - perhaps with free shipping - then keep what fits and return the rest.
    • For Amazon (AMZN) and other big online retailers, shipping is already one of the biggest and most rapidly increasing costs; e-commerce retailers likely would be affected by differing degrees, with the biggest companies such as Wal-Mart (WMT), Walgreen (WAG) and Saks (SKS) having advantages in their ability to negotiate pricing with FDX.
    • UPS has not yet followed FDX's move, but the two companies historically have matched each other's price increases.
  • May 5, 2014, 8:45 AM
    • Walgreens (WAG) says same-store sales rose 7.6% Y/Y in April, benefiting from a later Easter, which fell on April 20 this year.
    • In the front end, same-store sales rose 8.2%; customer traffic on a same-store basis improved 2.6% and basket size rose 5.6%.
    • Pharmacy segment same-store sales rose 7.3%, and same-store pharmacy prescriptions filled rose 3.5%; pharmacy sales accounted for 65% of WAG's total sales in April.
    | 1 Comment
  • Apr. 14, 2014, 1:44 PM
    • A number of hedge funds with a piece of Walgreen (WAG +2.5%) are pressing the firm to relocate to Europe for tax purposes.
    • The group thinks the company's ownership in Alliance Boots gives it the avenue to make the transition.
    • Walgreen isn't considering the option at the moment, according to reports.
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Company Description
Walgreens Boots Alliance Inc operates drug-stores chain in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drug-stores, as well as mail, and by telephone and online.
Sector: Services
Industry: Drug Stores
Country: United States