Walgreen Co. said Tuesday that even though the flu season has narrowed off dramatically in the last few months, its profit rose 4.5 percent during the fiscal second quarter on a boost in prescription drug sales. Walgreen Co. trades on the “New York Stock Exchange” under the stock symbol “WAG”. For More information regarding “WAG”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Walgreen Co., the largest U.S. drugstore chain, said Tuesday that even while the flu season has tapered off dramatically in the last few months, its profit rose 4.5 percent during the fiscal second quarter on a boost in prescription drug sales.
The company said it earned $669 million, or 68 cents per share, up from $640 million, or 65 cents per share, a year earlier. Restructuring expenses reduced its profit by 2 cents per share. Revenue rose 3.1 percent to $16.99 billion from $16.48 billion.
"As much as the early flu season helped our first-quarter results, it hurt our second-quarter results," said President and CEO Greg Wasson. Due to the weaker flu season and decreased sales of discretionary items, sales at stores open at least a year fell 0.2 percent
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