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Walgreens reports August sales up 10 percent

05-Sep-2007: Walgreens had August sales of $4.62 billion, an increase of 10.3 percent from $4.19 billion for the same month in 2006, the Deerfield-based company reported today.

Sales in comparable stores, or those open at least a year, rose 6.5 percent.

August pharmacy sales increased 9.9 percent, while comparable pharmacy sales increased 6.5 percent. Comparable pharmacy sales were negatively impacted by 4.2 percentage points due to generic drug introductions in the last 12 months.

Total prescriptions filled at comparable stores increased 3.4 percent. Pharmacy sales accounted for 66.4 percent of total sales for the month.

Comparable store front-end sales increased 6.6 percent during August.

Walgreens opened 101 stores during August, including 13 relocations, closed one store and acquired 54 stores, all but one of which were through its previously announced acquisition of Option Care Inc.

As of Aug. 31, the company operated 5,992 drugstores, including 96 home care division locations, eight specialty pharmacies and three mail service facilities, in 48 states and Puerto Rico, compared to 5,461 a year ago.

Franchisees of Option Care, a wholly owned subsidiary of Walgreens, are not included in that Walgreens store count.

Walgreens also announced it expects to open 550 stores in fiscal 2008, with 475 net new stores after relocations and closings.

Source: Chicago Daily Herald

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