Walgreens

Walgreens sees $200 million in savings from GOP tax cut

Walgreens sees $200 million in savings from GOP tax cut

The Republican-backed tax overhaul will translate into a $200 million cash savings for Walgreens this year, but the nation’s largest drugstore chain has not announced any plans to share the wealth with its employees.

Deerfield-based Walgreens Boots Alliance projected the tax windfall in a filing Monday with the Securities and Exchange Commission.

“The company expects to obtain a cash benefit in excess of $200 million for fiscal year 2018,” Walgreens said in the filing.

Walgreens said the tax savings would boost its net earnings by 30 to 35 cents per share for the fiscal year, which ends Aug. 31.

The sweeping tax reform bill, signed into law on Dec. 22 by...

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