Healthcare and pharmaceutical retailer Walgreens Boots Alliance has reported a 7.2  per cent increase in third-quarter sales to $39 billion ahead of the potential sale of its businesses. 

While the company’s  gross profit rose slightly from $6.4 billion to $6.5 billion year-on year, its operating income was down from $111 million to $53 million.

Its net loss in the third quarter was $175 million as compared to a net earning of $344 million during the same period last year. 

The company’s net cash from operating activities dropped from $605 million to $584 million year-on-year. 

“Third quarter results reflect continued improvement in our US healthcare segment and benefits from our cost savings initiatives, while we continued to see weakness in our US front-end sales,” said CEO Tim Wentworth. 

“We remain focused on our turnaround plan, which will require time, disciplined focus and a balanced approach to manage future cash needs with investments necessary to navigate an evolving pharmacy and retail environment.”

Walgreens-Boots Alliance has not provided a full-year guidance as it awaits the sale of its business to Sycamore Partners.