Walgreens Boots Alliance to Reduce Stake in Guangzhou Pharmaceuticals Corporation

Net sales increased 38% to $386.1 billion, compared with $280.5 billion in 2019. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 37% compared with 2019. Operating income increased to $22.9 billion, compared with operating income of $14.5 billion in 2019. Net income increased to $21.3 billion, or $41.83 per diluted share, compared with net income of $11.6 billion, or $23.01 per diluted share, in 2019.

Financial and Business Highlights: *Gross revenue was $203.3 million in the second quarter of 2020, a decrease of 28.4% compared to $283.9 million in the second quarter of 2019. *Gross profit was $48.4 million, or 23.8% of gross revenue in the second quarter of 2020, compared to $68.4 million, or 24.1% of gross revenue, in the same period of last year. *Net loss for the second quarter of 2020 was $(7.9) million, or $(0.15) per diluted share, compared to net loss of $(0.5) million, or $(0.01) per diluted share in the second quarter of 2019. Year-to-date net loss was $(10.8) million, compared to $(2.6) million in the same period of 2019.

Barnes & Noble Education continues to face tough times due to the pandemic, with the significantly reduced number of students on campus colleges leading to lower sales at its stores. The company reported sales for the third quarter ended December 31, 2020, of $411.6 million, down 18.1% compared to the previous year. The company saw a net loss of $48.3 million, up dramatically from a net loss of $1.7 million in the same period in 2019. In retail, the company's largest division, sales in the third quarter dropped to $70.3 million, down 15.5% compared with the prior year. Comparable store sales fell 19.9% for the quarter, with comparable textbook sales declining 8.1% and merchandise down 45.8%. Sales in the wholesale division were $39.5 million for the quarter, down 41.1% compared with the previous year.