Walgreens tops estimates as drugstore chain cuts costs, prepares to go private

Core Insights - Walgreens reported fiscal second-quarter earnings and revenue that exceeded expectations, driven by cost-cutting measures and preparations for a transition to private ownership [1][2] - The company is in the process of being taken private by Sycamore Partners, with the deal expected to close in the fourth quarter of this year [1] Financial Performance - Adjusted earnings per share were reported at 63 cents, surpassing the expected 53 cents [2] - Revenue for the three-month period ended February 28 was $38.59 billion, exceeding the anticipated$38 billion [2]