Walgreens reports 4Q EPS increase

DEERFIELD, Ill. Walgreens reported that net earnings for the quarter ended Feb. 29 were up 5.2% to $686 million, or 69 cents per diluted share, from $653 million, or 65 cents per diluted share in the same quarter a year ago. The company added that its sales results benefited from the extra day in February.

Net earnings for the first half were $1.14 billion, or $1.15 per diluted share, versus last year’s $1.08 billion, or $1.07 per diluted share. Sales increased 10.5% to a record $15.4 billion for the second quarter and 10.4% to $29.4 billion for the first half. Total sales in comparable stores were up 4.7% in the quarter, while front-end comparable drug store sales rose 4% in the quarter.

“Our employees across the country did a great job of controlling costs to counter tough comparisons faced with the year-ago quarter,” said Walgreens chairman and ceo JeffreyRein. “While sales softened in this challenging economy, we continue to execute and deliver.”