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Wal-Mart Stores to repurchase $15 billion shares
BENTONVILLE, Ark. — Wal-Mart Stores's board of directors has approved a new program authorizing the company to repurchase $15 billion of its shares, the company announced at its 41st annual meeting of shareholders Friday. This program replaces the previous $15 billion program, announced on June 4, 2010, that had approximately $2 billion of remaining authorization. Under the program, repurchased shares are constructively retired and returned to unissued status.
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Walgreen sales up 5.6% in May, completed acquisition
Deerfield, Ill. -- Walgreen Co. said its same-store sales role 5.6% in May, better than Wall Street expected.
Walgreen said pharmacy revenue from those stores rose 6.7% as it filled 7.1% more prescriptions. Front-end same-store sales grew 3.6%.
The company also said it completed its acquisition of Drugstore.com, an online health and beauty retailer. Walgreen agreed to buy the company in March for $429 million.