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March 22 at 6:02 p.m.
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Filed under: Earnings, Pharmaceuticals, Retail, Updated

Prescriptions help boost Walgreen profit 10%

By Bruce Japsen

The pharmacy of a Walgreen's store in New York. (JB Reed/Bloomberg)

Buoyed by an increase in the number of prescriptions it fills, Walgreen Co. this morning reported a 10 percent increase in its second-quarter profits.

The Deerfield-based drug store giant said earnings grew to $739 million, or 80 cents a share, compared to $669 million, or 68 cents a share, in the quarter ended Feb. 28. Revenues rose 8.9 percent to $18.5 billion.

Still, the price of Walgreen Co. shares fell $2.76, or 6.6 percent, to $39.21 a share on Tuesday because some analysts were unhappy with the company’s profit margins and higher expenses in the quarter. Selling, general and administrative expenses jumped 8 percent in the quarter to $4.1 billion. Get the full story »

Dec. 22, 2010 at 7:25 a.m.
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Filed under: Earnings, Pharmaceuticals, Retail

Walgreen’s 1Q profits up 19%

By Bruce Japsen

Amid a tough economy, Walgreens first-quarter profits jumped nearly 19 percent in its first quarter thanks to intensifying cost controls such as slowing store expansions. The results, which beat analysts’ expectations, come even as the Deerfield-based drugstore giant’s sales at stores open at least a year grew less than one percent in the period ended Nov. 30. Get the full story »