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Walgreens’ November sales miss expectations


Deerfield, Ill. Walgreens said on Wednesday that same-store sales rose 3.9% in November, while analysts' had expected a stronger 6.1% increase, according to Thomson Reuters data.

The chain said pharmacy same-store sales rose 5.7%, while analysts were looking for a 7.2% jump.

Same-store sales at the front end of the store rose 0.8%. Analysts, on average, had expected a 3.8% increase.

Demand for cough, cold and flu products slowed versus the previous two months, Walgreens said. Thanksgiving weekend was also notably softer, and weakness in demand for discretionary goods persisted throughout the month, the company added.

Total November sales rose 8.7% to $5.36 billion.

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