-
Walgreens and Rite Aid report rise in December same-store sales
New York City -- Walgreen Co. said Thursday that its same-store sales increased 0.4 percent in December, beating analysts' estimates for a decline of 0.1%.
Front-end sales were up 0.6%. Same-store pharmacy sales, which make up nearly 60% of total sales, rose 0.2%. Walgreen said those sales were hurt by more launches of generic drugs, as well as a milder season for coughs, colds and the flu.
Rite Aid Corp. said Thursday its December same-store sales rose 3.6%, boosted by higher pharmacy sales.
-
Walgreen Q1 profit falls 4.5%, misses Street
Deerfield, Ill. -- Walgreen Co. reported Wednesday that profit for the quarter ended Nov. 30 dropped 4.5% to $554 million, compared with $580 million in the year-ago period. The drugstore operator cited a slow flu season and the decision to leave Express Scripts pharmacy network among the reasons for the performance dip.
Revenue for the quarter climbed 4.7% to $18.16 billion – a chain sales record – but missed Wall Street’s forecasted $18.24 billion in revenue. Total same-store sales rose 2.5%; front-end comps increased 2.4%.