Pill Poppers Give Boost to Walgreen

Our pill-popping nation is paying off handsomely for Walgreen ( WAG).

The drugstore posted a 3.4% jump in June same-store sales helped by pharmacy sales.

Pharmacy sales grew 5.8% during the month, despite the negative impact of new generic drugs. But front-end same sales, which include discretionary items like cosmetics, fell .9%.

The company also saw weakness in season items. According to Thestreet.com's most recent store checks, Walgreen's limited selection of these items didn't help.

Total Walgreen sales increased 9% to $5.24 billion.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

More from Investing

In Pugnacious Twitter Rant, Musk Proposes Website for Users to Rate the Media

In Pugnacious Twitter Rant, Musk Proposes Website for Users to Rate the Media

One-on-One With Carnival Corporation CEO Arnold Donald (Watch)

One-on-One With Carnival Corporation CEO Arnold Donald (Watch)

Marc Chaikin's Technical Tools: Cramer's Off the Charts

Marc Chaikin's Technical Tools: Cramer's Off the Charts

Carnival CEO Arnold Donald: China Will Become the Largest Cruise Market

Carnival CEO Arnold Donald: China Will Become the Largest Cruise Market

Bitcoin Today: Prices Plummet Below $8,000 in Market Downturn

Bitcoin Today: Prices Plummet Below $8,000 in Market Downturn