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Walgreens sales up 2.5% in June
Deerfield, Ill. -- Walgreens on Wednesday reported June sales of $5.79 billion, an increase of 2.5% from the year-ago period.
Total front-end sales increased 2.2% compared with the same month last year, while comparable store front-end sales increased 0.8%. Customer traffic in comparable stores decreased 2.9%, while basket size increased 3.7%.
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Former Walmart CFO helps clean up competitor’s mess
Longtime financial executive and former Walmart U.S. CFO Michael Fung is helping discounter 99 Cents Only modernize inventory systems that have resulted in a series of accounting issues.
Fung, 62, retired from Walmart in early 2012, but was called back into service this past January by the private equity owners of 99 Cents Only. Fung was named interim chief administrative officer at the company to oversee finance, information technology and real estate. In addition, 99 Cents Only board member and former Food Lion president and CEO Richard Anicetti was named interim CEO.