Walgreen Sees Dip in February Sales
Walgreen has reported a sales slump in its February metrics. For the month, the company's sales came in at $5.75 billion, a dip of 2.2% from the $5.88 billion the company posted in the same month in 2012. Overall front-end (i.e., non-pharmacy) sales declined 3.1% over that time.
The results are somewhat distorted by the fact that 2012 was a leap year, providing an extra day in February 2012. When adjusted for that fact, overall sales recorded an annual gain of 1.5% and the front-end number was flat.
Comparable store sales dropped 3.7% on a year-over-year basis this past February. When adjusted for the extra day of 2012's month, that number narrows to a drop of 0.6%.
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