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

Markets

DJIA 26,492.21 -69.84 -0.26%
NASDAQ 8,007.47 14.22 0.18%
NIKKEI 225 24,033.79 93.53 0.39%
HANG SENG 27,816.87 317.48 1.15%
DAX 12,361.41 -13.25 -0.11%
USD (per EUR) 1.18 0.00 -0.06%
USD (per CHF) 0.97 0.00 0.25%
JPY (per USD) 112.91 -0.06 -0.05%
GBP (per USD) 1.32 0.00 -0.20%