April 5 Drugstore chain operator Walgreens Boots
Alliance Inc, reported a surprise drop in quarterly
sales, citing "challenging market conditions in continental
Europe" and as a strong dollar reduced the value of sales
outside the United States.
The company, which has been waiting nearly a year and a half
for regulatory approval to buy smaller rival Rite Aid Corp
, also said on Wednesday it would repurchase $1 billion
worth of shares till Dec. 31.
Net income attributable to the company, rose to $1.06
billion, or 98 cents per share, in the second quarter ended Feb.
28, from $930 million, or 85 cents per share, a year earlier.
Net sales fell to $29.45 billion from $30.18 billion a year
earlier. Analysts on average had expected sales to remain flat,
according to Thomson Reuters I/B/E/S.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by