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Walgreens sales up 7.8%, no thanks to Irene
DEERFIELD, Ill. — Walgreens reported that total sales for August were $6.1 billion, an increase of 7.8% from $5.66 billion for the same month in 2010. Total front-end sales increased 6.8% in August, while comparable store front-end sales increased 4.8%. Customer traffic in comparable stores increased 2.5% and basket size increased 2.3%.
Walgreens said Hurricane Irene had no significant net effect on total sales.
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Blockbuster Canada looks to shut down operations
Toronto -- Blockbuster Canada Co. is winding down operations. Grant Thornton Ltd., the receiver in charge of selling the chain, announced that it is seeking a court order to shut down the company’s remaining 253 stores.
The accounting firm was appointed receiver for the video chain in May. In June, it shuttered about 150 underperforming Blockbuster outlets, and began the hunt for a buyer for the remaining outlets. But Grant Thornton said it has been unable to find a suitable buyer.