Walgreens Puts Stock Buybacks On Hold

Business Insider reports that Walgreens has halted its share buyback program.
The pharmacy chain revealed it plans to cut 4,000 jobs after reporting worse-than-expected third-quarter figures.
The drugstore giant lost $1.95 per share over the period.
Thats $1.71 billion overall.
The company's Boots UK division saw same-store sales nosedive 48% over the period.
The reason? Walgreens says quarantine orders "compelled consumers to consolidate shopping into grocers."
The pharmacy chain's shares traded as much as 5.1% lower early Thursday on the news.