Walgreen's Sales Slide Continues

Before you go, we thought you'd like these...
Before you go close icon

Walgreens_logoDrug store giant Walgreen Co. (NYSE: WAG) announced this morning that December same-store sales fell 6.1% year-over-year, primarily due to the impact of generic drug sales replacing sales of higher-priced brand-name drugs. Total sales fell 4% from $6.99 billion last year to $6.71 billion.

Pharmacy sales in December fell 4.9%, and same-store pharmacy sales fell 8.9%. Pharmacy sales accounted for 56.7% of monthly sales.

Walgreen noted that a calendar shift was responsible for a negative impact of 2.3% on pharmacy sales, following a 2.9% drop in November. Sales of generic drugs as opposed to brand-name drugs cost the store 3.2% in comparable sales.

There was some positive news. The number of flu shots administered this year has risen from 5.3 million a year ago to 5.5 million. An increase in flu this year has boosted same-store drug sales by 1.4%, and the additional flu shots added 0.7% to sales in December.

Walgreen's stock is down 0.8% this morning, at $37.50 in a 52-week range of $28.53 to $38.41, as virtually every metric reported today was down.


Filed under: 24/7 Wall St. Wire, Retail Tagged: WAG
Read Full Story

Markets

S&P 500 2,265.20 -6.11 -0.27%
DJIA 19,799.85 -27.40 -0.14%
NASDAQ 5,552.94 -2.39 -0.04%
DAX 11,545.75 -84.38 -0.73%
HANG SENG 22,969.32 70.80 0.31%
NIKKEI 225 18,808.31 -82.72 -0.44%
USD (per EUR) 1.08 0.00 -0.06%
USD (per CHF) 1.00 0.00 0.01%
JPY (per USD) 112.97 0.19 0.17%
GBP (per USD) 1.25 0.00 -0.06%

From Our Partners