Walgreens Sales Up More Than 6%

Walgreens has reported a 6.4% increase in March sales to $5.82 billion from the same month a year ago, aided in part by calendar day shifts.
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NEW YORK (TheStreet) -- Walgreens (WAG) has reported a 6.4% increase in March sales to $5.82 billion from the same month a year ago, helped in part by calendar-day shifts.

Calendar-day shifts had a positive impact of 1.1 percentage points on comparable store sales in March, which had one more Wednesday and one less Sunday compared with March 2009. In addition, comparable store sales were helped by about 0.7 percentage points due to an earlier Easter this year, compared with last year.

March pharmacy sales increased 5.6%, while comparable pharmacy sales increased 2.4%. In addition, prescriptions filled at comparable stores increased 4.5%, while total front-end sales increased 6.6%. However, comparable pharmacy sales were negatively impacted by 2.6 percentage points due to generic drug introductions in the last 12 months and a lower incidence of flu compared with March 2009.

-- Reported by Andrea Tse in New York

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