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Walgreens June Sales Increase 8.9 Percent

Stocks in this article: WAG WAG

Walgreens (NYSE: WAG) (Nasdaq: WAG) had June sales of $6.28 billion, an increase of 8.9 percent from $5.77 billion for the same month in fiscal 2013.

Total front-end sales increased 1.8 percent in June compared with the same month in fiscal 2013, while comparable store front-end sales increased 1.3 percent. Customer traffic in comparable stores decreased 2.0 percent while basket size increased 3.3 percent.

Prescriptions filled at comparable stores increased by 7.3 percent in June and increased 4.7 percent on a calendar day-shift adjusted basis. June 2014 had one additional Monday and one fewer Saturday compared with June 2013. These calendar shifts positively impacted prescriptions filled at comparable stores by 2.6 percentage points.

June pharmacy sales increased by 13.4 percent. Comparable store pharmacy sales increased 11.3 percent and increased by a calendar day-shift adjusted 8.7 percent. Calendar day shifts positively impacted pharmacy sales in comparable stores by 2.6 percentage points. Calendar day-shift adjusted comparable store pharmacy sales were negatively impacted by 1.4 percentage points due to generic drug introductions in the last 12 months. Pharmacy sales accounted for 65.2 percent of total sales for the month.

Sales in comparable stores increased by 7.5 percent in June. Calendar day shifts positively impacted total comparable sales by 1.7 percentage points. Generic drug introductions in the last 12 months negatively impacted total comparable sales by 0.9 percentage point.

Calendar 2014 year-to-date sales for the first six months were $38.13 billion, an increase of 5.9 percent from $36.00 billion in 2013.

Fiscal 2014 year-to-date sales for the first 10 months were $63.65 billion, an increase of 6.0 percent from $60.04 billion in fiscal 2013.

Walgreens opened 15 stores during June, including three relocations, and closed 13. Nearly all of the June store closings were part of the company’s previously announced efforts to optimize its asset base by closing a total of 76 drugstores.

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