Walgreen Co.

Deerfield, Ill. -- Walgreens said Tuesday it has formally set up a new company, jointly owned with Alliance Boots, as part of the strategic partnership’s synergy program.

The new company, called Walgreens Boots Alliance Development GmbH, is based in Bern, Switzerland.

Deerfield, Ill. -- Walgreens said Tuesday that it is beginning its recovery efforts in the wake of Hurricane Sandy. The retailer said that it is working to provide its stores with what they need to again serve customers in areas impacted by the storm.

By noon ET on Tuesday, the number of Walgreens stores closed dropped to 530 with more re-opening by the hour, from a peak of about 750 stores closed during the height of the storm.

Deerfield, Ill. -- Nearly one year after launching an initiative to help create more job opportunities for people with disabilities in Connecticut, 62 participants have completed training under the Walgreens Retail Employees with Disabilities Initiative (REDI) program.

DEERFIELD, Ill. — Walgreens on Monday announced the launch of the "Taylor Swift Store at Walgreens," which will market a wide array of products from the six-time Grammy winner's branded merchandise line. Walgreens and select Duane Reade locations will provide a comprehensive, in-store selection of Taylor Swift music and merchandise.

The items will be available for purchase chain wide beginning the week of Oct. 8. The Taylor Swift-branded merchandise will incorporate artwork from her soon to be released album, "Red."

DEERFIELD BEACH, Fla. — Walgreens’ fiscal fourth quarter net income fell 55% compared with a year ago when the drugstore operator recorded a big business sale gain. However, its adjusted earnings still beat analysts’ expectations.

Walgreen earned $353 million for the quarter ended Aug. 31, compared with $792 million a year ago. On an adjusted basis, Walgreen earned $553 million versus $599 million a year earlier. Adjusted earnings excluded acquisition-related costs and costs related to inventory.

Deerfield Beach, Fla. -- Walgreens’ fiscal fourth quarter net income fell 55% compared with a year ago when the drugstore operator recorded a big business sale gain. However, its adjusted earnings still beat analysts’ expectations.

Walgreen earned $353 million for the quarter ended Aug. 31, compared with $792 million a year ago. On an adjusted basis, Walgreen earned $553 million versus $599 million a year earlier. Adjusted earnings excluded acquisition-related costs and costs related to inventory.

Camp Hill, Pa. — Rite Aid narrowed its second-quarter loss to $41.4 million in the second quarter from a $94.7 million loss in the year-ago period.

Revenue slipped to $6.23 billion from $6.27 billion last year, missing Wall Street’s projected $6.25 billion in sales. Same-store sales were essentially flat for the quarter.

Deerfield, Ill. -- Walgreens announced Tuesday several senior-management shifts intended to capitalize on its new partnership with Swiss drugstore chain Alliance Boots.

CFO Wade Miquelon is assuming an expanded and global leadership role at Walgreens as executive VP/CFO and president, international, leading a newly named Value Creation Services and International Division.