Walgreens first-quarter profit falls nearly 25% on higher costs

(Reuters) – Drugstore chain Walgreens Boots Alliance Inc posted a 24.8% drop in quarterly profit on Wednesday, hurt by higher costs related to its acquisition of stores from rival Rite Aid Corp

Net income attributable to Walgreens fell to $845 million, or 95 cents per share, in the first quarter ended Nov. 30, from $1.12 billion, or $1.18 per share, a year earlier.

Revenue rose to $34.34 billion from $33.79 billion.