Walgreens Boots Alliance profit rises as COVID - 19 vaccines continue to lift sales

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Walgreens Boots Alliance profit rises as COVID - 19 vaccines continue to lift sales

Walgreens Boots Alliance Inc. said its profit rose for the recent quarter, with its role in administering COVID - 19 vaccines continuing to help lift sales.

The Deerfield, Ill. drugstore chain said that it has given 13.5 million vaccines in the three months that closed Aug 31. The company said it has administered more than 40 million COVID - 19 vaccinations and more than 16 million COVID - 19 tests to date.

The company posted sales of $34.26 billion for the fiscal fourth quarter, up from $30.37 billion in the same period last year, surpassing Wall Street estimates. Profit rose to $627 million from $373 million in the comparable period last year.

Adjusted earnings were $1.17 a share, ahead of forecasted $1.02 a share analysts polled by FactSet.

The Centers for Disease Control and Prevention reported 65.6% of the U.S. population has received at least one dose of COVID - 19 vaccine (cf.

U.S. pharmacy sales rose 6.7%, and retail sales in the U.S. increased 6.5%, said the company. According to the company, health and wellness sales increase 14%, helped by products like at-home COVID - 19 tests and vitamins.

The company said it benefited from the continued recovery in the U.S. where COVID - 19 restrictions were lifted in July. What is the reason of this latest increase in the value of international business?