Walgreens reports major expansion plan

DEERFIELD, Ill. After reporting August sales of $4.6 billion (an increase of 10.3% from $4.2 billion for the same month in 2006) and 6.5% gain in comparable-store sales, Walgreens announced its plan for a major store expansion. The company announced today that it expects to open 550 stores in fiscal 2008, with 475 net new stores after relocations and closings.

During fiscal 2007, Walgreens opened 615 new stores, including 115 acquisitions, for an increase after relocations and closings of 531 stores.