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Walgreens Q1 profit falls
New York -- Walgreens fiscal first-quarter earnings dropped nearly 26% as costs tied to a couple big deals and Hurricane Sandy helped put a bigger-than-expected dent in the chain's performance.
Walgreens earned $413 in the quarter million, compared with net income of $554 million in the year-ago period. Sales fell 4.6% to $17.32 billion, with same-store sales down 8%.
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Sainsbury names gold medal board member
Leading U.K. retailer J. Sainsbury named Jean Tomlin to its board as a non-executive director, effective January 1, 2013.
Tomlin’s appointment follows the previously announced retirement of Anna Ford from her role as non-executive director, effective December 31. In addition to her overall board contribution, Tomlin will chair the company’s corporate responsibility committee and sit on the remuneration and nomination committees.