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WALGREENS BOOTS ALLIANCE, INC.

(WBA)
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Walgreens, CVS shut some stores as Omicron variant complicates staffing issues

01/14/2022 | 09:31am EST
FILE PHOTO: People walk by a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City

(Reuters) - U.S. drugstore chain operators Walgreens Boots Alliance and CVS Health Corp said on Friday they were forced to temporarily shut some stores due to staffing issues triggered by the latest surge in COVID-19 infections.

CVS said the store closures on one or both days of the weekend are temporary and in response to the fast-spreading Omicron coronavirus variant as well as a nationwide staffing shortage.

"The adjusted operating hours in these stores are temporary," CVS said in an emailed statement.

U.S. department stores and drugstore chains, including Walmart and Macy's Inc, have been forced to cut working hours or shut stores amid the spike in infections due to the Omicron coronavirus variant.

In an emailed statement on Friday, a Walgreens spokesperson said the closures affect less than 1% of the company's nearly 9,000 stores.

"It's an extremely limited, case-by-case basis and not specific to any region or area, as we make every effort to staff and keep pharmacy open for our patients in the community," the spokesperson said.

Walgreens said it was working to deploy additional staff to any impacted store as quickly as possible.

(Reporting by Manojna Maddipatla in Bengaluru; Editing by Amy Caren Daniel)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CVS HEALTH CORPORATION -1.01% 103.45 Delayed Quote.0.28%
MACY'S, INC. 0.20% 25.27 Delayed Quote.-3.48%
ON SEMICONDUCTOR CORPORATION -6.38% 59.01 Delayed Quote.-13.12%
WALGREENS BOOTS ALLIANCE, INC. 0.02% 53.53 Delayed Quote.2.63%
WALMART INC. 1.00% 143.94 Delayed Quote.-0.52%
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Analyst Recommendations on WALGREENS BOOTS ALLIANCE, INC.
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Financials (USD)
Sales 2022 131 B - -
Net income 2022 5 737 M - -
Net Debt 2022 9 046 M - -
P/E ratio 2022 8,14x
Yield 2022 3,60%
Capitalization 46 211 M 46 211 M -
EV / Sales 2022 0,42x
EV / Sales 2023 0,39x
Nbr of Employees 258 500
Free-Float 60,9%
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Mean consensus HOLD
Number of Analysts 21
Last Close Price 53,53 $
Average target price 54,47 $
Spread / Average Target 1,75%
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Managers and Directors
Rosalind Gates Brewer Chief Executive Officer & Director
John Standley President & Executive Vice President
James Kehoe Global Chief Financial Officer & Executive VP
Stefano Pessina Executive Chairman
Francesco Tinto Global Chief Information Officer & Senior VP