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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Walgreens Boots Alliance    WBA

WALGREENS BOOTS ALLIANCE

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Walgreens Launches Next-Day Prescription Home Delivery with FedEx

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12/06/2018 | 09:45am EDT

By Aisha Al-Muslim

Walgreens Boots Alliance Inc. has teamed up with FedEx Corp. to launch a nationwide next-day prescription home-delivery service as the drugstore chain works to stave off competition from Amazon.com Inc. and other rivals.

Under the delivery service called Walgreens Express, patients enrolled in text alerts will receive text notification when qualifying prescriptions are ready, Walgreens said Thursday. For a $4.99 fee, patients can have their prescriptions delivered by FedEx to their home as early as the next day. Same-day delivery is currently available in Dallas, Chicago, New York City, and Florida cities Miami, Gainesville, Tampa, and Fort Lauderdale. The company said it will expand the option to additional locations in 2019.

Walgreens Express will allow patients to preview costs for their medicine, prepay for eligible prescriptions and choose between home delivery or express pickup in store. Patients can also collect their prescriptions at a Walgreens Express pickup line in stores. Walgreens has about 9,560 drugstores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Walgreens's move comes after CVS Health Corp. enlisted the U.S. Postal Service for a new home-delivery service in June. CVS struck a deal with the Postal Service to pick up prescriptions at CVS stores and bring them to customers' homes in one or two days. CVS customers will be charged $4.99 per delivery, which could include over-the-counter products such as aspirin or face wash.

Later in June, The Wall Street Journal reported Amazon was buying online pharmacy PillPack Inc. for roughly $1 billion in cash, giving the e-commerce giant the ability to ship prescriptions around the country, and overnight, which made it a direct threat to the more than $400 billion pharmacy business.

Shares of Walgreens fell 1.4% in premarket trading Thursday, while FedEx shares were down 1.6%.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM -0.08% 1857.52 Delayed Quote.23.77%
FEDEX CORPORATION -0.13% 167.99 Delayed Quote.4.26%
WALGREENS BOOTS ALLIANCE 0.96% 52.76 Delayed Quote.-23.52%
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Financials ($)
Sales 2019 137 B
EBIT 2019 7 187 M
Net income 2019 4 581 M
Debt 2019 14 957 M
Yield 2019 3,45%
P/E ratio 2019 10,31
P/E ratio 2020 9,64
EV / Sales 2019 0,46x
EV / Sales 2020 0,44x
Capitalization 47 781 M
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Technical analysis trends WALGREENS BOOTS ALLIANCE
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TrendsBearishBearishBearish
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Mean consensus HOLD
Number of Analysts 24
Average target price 58,0 $
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Stefano Pessina Executive Vice Chairman & Chief Executive Officer
James A. Skinner Executive Chairman
Ornella Barra Co-Chief Operating Officer
Alexander W. Gourlay Co-Chief Operating Officer
Richard M. Ashworth President-Operations
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