Although it made moves to improve its performance, including the establishment of a group purchasing organization with Kroger and record online sales for Black Friday in the U.S. and United Kingdom, Walgreens Boots Alliance said sales for the first quarter were soft.
Building on a unique collaboration that first brought together Kroger’s food and grocery experience with Walgreens’ expertise in health and beauty, the companies have formed a new group purchasing organization aimed at delivering purchasing efficiencies, lower costs and combined resources to help drive further innovation.
Walgreens Boots Alliance has named Francesco Tinto global chief information officer and senior vice president at the company.
To advance a pilot program launched in October of last year, Kroger and Walgreens have launched Walgreens own-brand health and beauty products in 17 Kroger stores across Knoxville, TN, as well as the expansion of Kroger Express and Kroger Pickup at Walgreens stores.
Walgreens Boots Alliance and Microsoft Corp. have joined forces to develop new health care delivery models, technology and retail innovations to advance and improve the future of health care, the companies said.
Walgreens Boots Alliance generated a solid first quarter while launching a cost management program that will look to save more than $1 billion.
Kroger and Walgreens recently expanded on the exploratory pilot concept the two retailers announced in October, in which the companies began testing a concept combining Kroger’s grocery expertise with Walgreens’ mix of pharmacy, health and beauty.
With fourth quarter profits exceeding Wall Street expectations, Walgreens Boots Alliance touted gains for both the period and the fiscal year despite weak U.S. retail comps.
Walgreens Boots Alliance has completed the previously announced agreement to acquire a 40% minority stake in Sinopharm Holding GuoDa Drugstores Co., Ltd. (GuoDa), a leading retail pharmacy chain in China.