Retail pharmacy firm Walgreens Boots Alliance (WBA:NASDAQ) is set to report its second-quarter earnings as speculation continues to swirl about a return to the London market for its UK chain Boots.

Trading as Alliance Boots after a 2006 merger with pan-European wholesale and retail pharmacy outfit Alliance UniChem, the business was acquired by private equity in 2007 before merging with North American rival Walgreens.

The wider group announces its results for the three months ended 29 February 2024 on 28 March with its share price under some pressure – down more than 20% year-to-date, extending five-year losses to nearly 70%.

The decision to cut the dividend by 48% alongside first-quarter numbers at the start of the year (4 January) to conserve cash did little for sentiment as the company contends with reduced demand for Covid vaccines and testing and lower spending on personal care and beauty products by hard-pressed consumers.

Its subsequent elimination from the Dow Jones Industrial Average also damages its prestige and means it will benefit from less buying from funds which look to track this index.

As well as an update on its plan for Boots, investors will expect a progress update on the $1 billion cost-cut programme launched in October. 

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