The coronavirus pandemic pushed Walgreens to a $1.7 billion loss in the third quarter with customers staying home or limiting shopping to essential supplies from grocery stores.
The drugstore chain said Thursday that the rapidly spreading virus took a bite of between $700 million and $750 million from sales, with much of the financial damage coming from outside the United States.
Sales at stores in the U.K., where the company furloughed more than 16,000 employees, dropped almost 28% on a constant currency basis. April foot traffic at Boots stores plunged 85%. Shares are down more than 4% before the opening bell.