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Walgreen Beats Estimates, Investors Await News of Coming Merger

Walgreens, America's largest drugstore chain, reported earnings for their first quarter of 2015.

Walgreens, America's largest drugstore chain, reported earnings for their first quarter of 2015. Earnings of $0.81 beat estimates of $0.75 and were $0.09 higher than during the same period in the prior year. Sales of $19.6 billion was roughly on target with estimates but showed growth from the $18.3 billion reported last year. Walgreen's beat the overall retail market in year-over-year sales growth leading up to this holiday season. On December 29th the retailer will hold a vote in New York City on the second step of their merger with Alliance Boots regarding the potential for a holding company reorganization and the issuance of Walgreens Boots Alliance shares. Shares of Walgreens are up over 30% for the year. Whalen MacHale reports for TheStreet from New York.

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