Walgreens Boots Alliance managed to reduce its loss in the first quarter of FY24 after sales jumped 10 per cent year over year to $36.7 billion.

On a constant currency basis, sales increased 8.7 per cent and reflected growth in the US Retail Pharmacy and International segments.

The company’s operating loss was $39 million compared to a loss of $6.2 billion in the year-ago quarter. Its net loss also went down to $67 million from $3.7 billion last year.

By segment, US Retail Pharmacy posted a sales increase of 6.4 per cent to $28.9 billion, with comparable sales up 8.1 per cent.

Sales of the International segment jumped 12.4 per cent to  $5.8 billion, which included a favorable currency impact of 8 per cent.

Walgreens Boots Alliance CEO Tim Wentworth said the results were in line with expectations amid a “challenging consumer backdrop”.

“We are evaluating all strategic options to drive sustainable long-term shareholder value, focusing on swift actions to right-size costs and increase cash flow, with a balanced approach to capital allocation priorities.”

Walgreens Boots Alliance currently is an integrated healthcare, pharmacy and retail company with 12,500 locations across the US, Europe and Latin America. Its consumer brands include Walgreens, Boots, Duane Reade, the No7 Beauty Company, and Benavides.