January 8, 2020 / 12:15 PM / 12 days ago

Walgreens first-quarter profit falls nearly 25% on higher costs

(Reuters) - Drugstore chain Walgreens Boots Alliance Inc posted a 24.8% drop in quarterly profit on Wednesday, hurt by higher costs related to its acquisition of stores from rival Rite Aid Corp

Net income attributable to Walgreens fell to $845 million, or 95 cents per share, in the first quarter ended Nov. 30, from $1.12 billion, or $1.18 per share, a year earlier.

Revenue rose to $34.34 billion from $33.79 billion.

Reporting by Trisha Roy and Manas Mishra in Bengaluru; Editing by Shinjini Ganguli

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