June 27 (Reuters) - Walgreens Boots Alliance (WBA.O) slashed its profit forecast for the year as persistently high inflation hits sales of consumer healthcare goods and demand for COVID shots and tests wanes, sending its shares plunging 8% on Tuesday.
"Our revised guidance takes an appropriately cautious forward view in light of consumer spending uncertainty," CEO Rosalind Brewer said in a statement.
Walgreens' shares were trading at $29.21, on track to open at their lowest levels since 2012, if losses held.
In the third quarter of the fiscal year, Walgreens reported a 0.2% fall in same-store sales at its retail division, compared with estimates of a 2.1% rise, according to brokerage TD Cowen.
Walgreens said its forecast cut reflected "challenging consumer and macroeconomic conditions, and lower COVID-19 vaccine and testing volumes".
Persons:
Rosalind Brewer, TD, Walgreens, Manas Mishra, Mariam Sunny, Pooja Desai
Organizations:
Walgreens Boots Alliance, CVS Health, Walgreens, TD Cowen, Thomson
Locations:
Bengaluru