Walgreens profits rise

On Thursday, multinational drugstore company Walgreens Boots Alliance Inc. reported $26.6 billion in net sales for its second quarter of fiscal 2015.

The 35.5 percent increase for the quarter ended Feb. 28 received a boost from the Deerfield, Ill.-based company’s December acquisition of European pharmacy corporation Alliance Boots. Walgreens’ U.S.-based drugstores generated about $21 billion, or 79 percent of sales, according to Reuters.

Walgreens announced that a $1 billion, three-year program to cut costs announced in August has been re-assessed and modified; projected savings are now anticipated to reach $1.5 billion by August 2017.

The company also stated that it plans to close 200 American stores and open 200 more in an effort to streamline operations.

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