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Walgreen Co. Reports Fiscal 2013 Third Quarter Results

Stocks in this article: WAG

Walgreens also delivered operating and free cash flow of $1.4 billion and $1.1 billion, respectively, in the third quarter.

Other third quarter highlights

  • In March, Walgreens and Alliance Boots announced a strategic, long-term relationship with AmerisourceBergen that expands Walgreens existing relationship into a 10-year agreement with AmerisourceBergen for pharmaceutical distribution. Under the agreement, AmerisourceBergen also will collaborate with Walgreens and Alliance Boots on global supply chain opportunities, and Walgreens and Alliance Boots together will have rights to acquire a minority equity position in AmerisourceBergen.
  • To help meet the need for greater access to affordable health services and bridge gaps in patient care, while also improving care coordination, Walgreens announced its Take Care Clinics now offer an expanded scope of health care services. The new services, now available at most of the more than 370 Take Care Clinics located at select Walgreens, include assessment, treatment and management for chronic conditions such as hypertension, diabetes, high cholesterol, asthma and others, as well as additional preventive health services.
  • Walgreens Balance® Rewards loyalty program has grown to 75 million enrollees. The company announced that members can participate in additional health-related activities and goal tracking to earn more points through walking, running and weight management goals that can be logged and tracked through Steps with Balance Rewards.
  • Walgreens opened new flagship stores in Washington, D.C., Boston, San Francisco and the Empire State Building in New York City, showcasing a unique pharmacy format that provides comprehensive care such as health tests and immunizations, as well as health and daily living offerings like fresh food and an enhanced beauty department.
  • Walgreens was among 65 U.S. employers that received the 2013 Best Employers for Healthy Lifestyles® award by the National Business Group on Health’s Institute on Innovation in Workforce Well-Being. Walgreens was honored for its ongoing commitment and dedication to promoting a healthy workplace and encouraging its workers and families to pursue and maintain healthy lifestyles.

At May 31, Walgreens operated 8,560 locations in all 50 states, the District of Columbia, Puerto Rico and Guam. The company has 8,097 drugstores nationwide, 207 more than a year ago. Walgreens also operates worksite health and wellness centers, infusion and respiratory services facilities, specialty pharmacies and mail service facilities. Its Take Care Health Systems subsidiary manages more than 700 in-store convenient care clinics and worksite health and wellness centers. Walgreens e-commerce business includes Walgreens.com, drugstore.com, Beauty.com, SkinStore.com and VisionDirect.com.

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