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Walgreen profit leaps 69% in Q4
Deerfield, Ill. -- Walgreen Co. reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.
Net income for the quarter ended Aug. 31 rose to $792 million, up from $470 million in the year-ago period and surpassing Wall Street expectations.
Revenue rose 6.5% to $18 billion and same-store sales increased 4.4%.
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Trend Talk
Any early skepticism about the longevity of mixed-use has been silenced. The art of combining components to create a live-work-play project has evolved into a science. And those that have become particularly adept at building, leasing and managing mixed-use properties say that the right formula makes for a successful development. Chain Store Age talked with three top developers of mixed-use projects and uncovered several trends that are governing, and continuing to evolve, the format.
Trend #1: Adding local flavor
