1. Data & Insights

Walgreens Sales Fall as Demand for Covid Vaccines Wanes

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Drugstore chain swung to a quarterly loss due to previously disclosed $6.5 billion opioid settlement

Consumer spending has held up relatively well so far despite inflation, but experts say we’re approaching an inflection point. WSJ’s Sharon Terlep explains the role ‘elasticity’ plays in a company’s decision on whether to raise prices. Photo illustration: Adele Morgan

Walgreens Boots Alliance Inc. said sales fell 1.5% in the recently ended quarter, as a drop-off in Covid-19 vaccinations and test kits hampered the company’s retail pharmacy business in the U.S.

The Deerfield, Ill., drugstore chain cited strong sales of cough, cold and flu medicines as one bright spot that helped comparable retail sales excluding tobacco rise 2.1% in the U.S. A surge in pediatric cases of RSV, influenza and Covid-19 in the U.S. this winter has driven demand for those medicines. The beauty and personal-care categories also grew in the quarter.

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