Why Walgreen (WAG) Stock Is Rising in Pre-Market Trading Today

NEW YORK (TheStreet) -- Shares of Walgreen Co. (WAG) are higher by 2.52% to $61.10 in pre-market trading on Tuesday, after the company reported an increase in its 2014 fiscal year sales to a record $76.4 billion, a 5.8% increase from the 2013 fiscal year.

Adjusted net earnings for the fiscal year were $3.2 billion, or $3.28 per share, compared to $3 billion, or $3.12 per share for fiscal 2013.

"We closed the fiscal year by exercising the option for the second step of our strategic transaction with Alliance Boots, completing the transition of our pharmaceutical distribution to AmerisourceBergen  (ABC) and driving continued improvement in our daily living business that resulted in our largest year-over-year quarterly and fiscal-year sales increases in three years," said company CEO Greg Wasson.

Watch the video below for a closer look at Walgreen's latest quarterly results:

For the 2014 fourth quarter, the company said adjusted net income rose to $714 million, or 74 cents per share, compared to $702 million, or 73 cents for the year ago period.

The retail drug store chain's earnings per share matched the 74 cents analysts were expecting the company to report.

Walgreen's fourth quarter sales were up by 6.2% to $19.1 billion, compared to the 2013 fourth quarter.

Fourth quarter revenue was in line with analysts' expectations.

WAG Chart WAG data by YCharts

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