Most of the market's attention is focused on the rest of Wasson's strategy, turning flagship stores into lifestyle hubs with wine and coffee bars, even massages. This is a huge contrast with the normal look of a drug store, which is basically a convenience store with a drive-by drug window instead of gas pumps.
Walgreens put the best face on the miss emphasizing that earnings were $645 million rather than the fact that revenue was up only 3.2% to $18.3 billion.
The point is every argument being said against the company today is tactical, not strategic, and the arguments are being made by traders for whom the long term means lunch time. The jury is still out on Walgreens' transformation, and results won't be in for another three years.Follow @DanaBlankenhor This article was written by an independent contributor, separate from TheStreet's regular news coverage.