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Walgreens and Rite Aid report April results
New York -- Walgreen Co. said Thursday that same-store sales slipped a worse-than-expected 6.4% in April, largely due to its split with pharmacy benefits manager Express Scripts Inc.
For April, Walgreens’ same-store pharmacy sales were down 8.9%. Front-end sales fell 2.2%
At April 30, Walgreens operated 8,307 locations in all 50 states, the District of Columbia, Puerto Rico and Guam
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Loblaw Q1 profit falls 22%
Brampton, Ontario -- Canadian grocery chain Loblaw Cos. reported Wednesday that net income for the first quarter plummeted 22% to $128 million, compared with $156 million in the year-ago period. The country’s largest food retailer was squeezed by higher costs and heightened competition as Wal-Mart Stores continues its march into Loblaw territories.
Revenues for the quarter edged up .9% to $7.02 billion. Same-store sales dipped 0.7%.