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Key Highlights:
Sales Growth: Overall sales increased by 7.5% year-over-year to $39.5 billion, or 6.9% on a constant currency basis. This growth is across all business segments (US Retail Pharmacy, International, and US Healthcare).
Net Loss: WBA reported a net loss of $265 million, a significant increase compared to the $67 million loss in the same quarter last year. This is primarily attributed to higher operating losses.
Quote: "Net loss in the first quarter was $265 million compared to a net loss of $67 million in the year-ago quarter, primarily driven by higher operating loss."
Adjusted EPS Decline: Adjusted earnings per share (EPS) decreased to $0.51, down from $0.66 in the previous year, a decrease of 23.4% on a constant currency basis.
Operating Loss: The company reported an operating loss of $245 million, compared to $39 million in the same quarter last year. The loss reflects higher costs related to the Footprint Optimization Program and lower US retail sales.