Walgreen Earnings Rise, Top Estimates

WalgreenDrugstore chain Walgreen Co. (WAG) posted earnings of 49 cents per diluted share for the quarter, compared with 44 cents per share a year ago.

Sales for the quarter rose 7.4% to $16.9 billion in the quarter ended Aug. 31, the company said in a statement. Comparable store sales, not including Duane Reade stores, rose 1.5%.

"The double-digit increase in fourth quarter earnings per share was driven by strong operating performance across our 7,500-store network and expense control companywide," said Walgreens CEO Greg Wasson.

Sponsored Links
The figure for earnings per share includes the impact of 4 cents per share associated with the Duane Reade acquisition and 1 cent per share in restructuring costs associated with the company's Rewiring for Growth initiative.

For fiscal 2010, net earnings per share rose 5% to $2.12 per share. Sales were $67.4 billion.

The company also completed its $2 billion share repurchase program in the quarter.
Read Full Story
  • DJI30046.24454.971.54%
    NASDAQ12036.78156.151.31%
  • NIKKEI 22526296.86131.270.50%
    Hang Seng26637.7549.550.19%
    DAX13336.8644.420.33%
  • USD (PER EUR)1.190.00300.25%
    USD (PER CHF)1.100.00060.05%
    JPY (PER USD)104.37-0.1100-0.11%
    GBP (PER USD)1.340.00130.10%

From Our Partners