3 Ways Walgreens Is Proving to be a Pandemic-Proof Stock
Finding a safe stock to hold during the COVID-19 pandemic and the recession the economy's in right now is no easy task. But pharmacy retailer Walgreens (NASDAQ: WBA) may be proving to be one of the safer investments to hold in your portfolio right now. The company released its quarterly earnings earlier this month, and there were many positives to pull from them. Here are three reasons the company's latest results suggest its stock could be a pandemic-proof investment:
Walgreens released its third-quarter results on July 9. And even amid challenges due to COVID-19, the company still squeaked out revenue growth of 0.1%. At $34.63 billion, the company's top line wasn't a whole lot different from the $34.59 billion that Walgreens reported in the same quarter last year. But that increase looks much more impressive when you factor in the fact that the company's retail pharmacy international segment was down more than 31% from a year ago. The company blames the disappointing results on COVID-19, as many of its Boots UK stores were closed during the quarter as a result of a lockdown.
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Source Fool.com
