Walgreen's Sales Jump in January

Pharmacy sales jump 12.5% in the month, leading a 9.1% gain in same-store sales.
By Meredith Derby ,

Walgreen

(WAG)

said Tuesday that sales at stores open at least a year rose 9.1% in January, on top of a 7.7% increase in same-store sales during the prior-year period.

The company also said pharmacy same-store sales rose 12.5% in the month, outpacing a 12.1% increase in January 2003. Total prescriptions filled at comparable stores increased 6.5%, compared with a 4.6% last year, and front-end same-store sales rose 3.6% compared with a 1% increase a year ago.

Total January sales increased 13.2% to $3.03 billion, from $2.68 billion in the prior year. Total pharmacy sales increased 15.7%.

Walgreen opened 27 stores in January, including two relocations, and closed four stores. At Jan. 31, the company operated 4,313 drugstores compared with 3,966 a year earlier.

Shares of the Deerfield, Ill.-based company fell 9 cents, or 0.3%, to $34.60 in early trading Tuesday.

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