Walgreens slashes profit guidance, citing 'challenging' environment for consumers and pharmacies

Walgreens slashes full-year adjusted profit outlook due to a "challenging" environment for pharmacies and U.S. consumers.

The company topped revenue estimates for the quarter on strong performance in its health-care segment.

CEO: "The consumer is absolutely stunned by the absolute prices of things" The company says it is simplifying its health care portfolio and finalizing plans to close underperforming stores.

Results come one quarter after a steep net loss as it recorded a hefty $6 billion charge related to the decline in value of its investment in VillageMD.

Total prescriptions filled in the quarter including vaccines totaled 306.4 million , a 0.5% increase from the same period a year ago . Retail sales for the quarter fell 4% from the prior-year quarter , and comparable retail sales declined 2.3% . The company pointed to a "challenging" retail environment, among other factors. Walgreens ' international segment, which operates more than 3,000 retail stores abroad, posted $5.73 billion in sales in the fiscal third quarter . That's an increase of 2.8% from the year-ago period..