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Walgreens February Sales Decrease 2.2 Percent

Stocks in this article: WAG

Walgreens (NYSE: WAG) (Nasdaq: WAG) had February sales of $5.75 billion, a decrease of 2.2 percent from $5.88 billion for the same month in fiscal 2012. Last year’s total February sales benefited from one extra day because of the leap year. Excluding last February’s leap day, this year’s February sales increased 1.5 percent. Total front-end sales decreased 3.1 percent compared with the same month in fiscal 2012, and were flat when excluding last February’s leap day. All comparable store sales and comparable prescription figures below compare the first 28 days in February 2012 to the 28 days in February 2013.

Comparable store front-end sales decreased 1.4 percent, while customer traffic in comparable stores decreased 4.9 percent and basket size increased 3.5 percent.

Prescriptions filled at comparable stores increased by 6.5 percent in February. Prescriptions filled at comparable stores were positively impacted by 0.1 percentage point due to the higher incidence of flu in this year’s February. Flu shots had no impact on comparable store sales. The company said the percentage of former Express Scripts customers returning to its pharmacies continued to increase in February on a flu-adjusted basis.

February pharmacy sales decreased by 2.1 percent, but increased 2.0 percent when excluding last February’s leap day. Comparable store pharmacy sales were flat and were negatively impacted by 6.0 percentage points due to generic drug introductions in the last 12 months. Pharmacy sales accounted for 61.9 percent of total sales for the month.

Flu shots administered at pharmacies and clinics season-to-date were nearly 7.0 million versus 5.5 million last year.

Sales in comparable stores decreased by 0.6 percent in February. Generic drug introductions in the last 12 months negatively impacted total comparable sales by 3.7 percentage points.

Registrations for Walgreens Balance ® Rewards loyalty program, which launched in September, totaled nearly 60 million through February.

Total sales for the second quarter of fiscal 2013 were $18.63 billion, down 0.1 percent from $18.65 billion in the second quarter of fiscal 2012. Fiscal 2013 year-to-date sales for the first six months were $35.95 billion, down 2.3 percent from $36.81 billion in the first six months of fiscal 2012.

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