Walgreen's Same-Store Sales Rise 3.5% in March
April 03 2014 - 8:44AM
Dow Jones News
By Ben Fox Rubin
Walgreen Co. (WAG) said same-store sales rose 3.5% in March from
a year earlier, as higher pharmacy sales offset weaker front-end
results.
Drugstore retailers' sales have been pressured by a wave of
major generic-drug introductions. The shift in consumers' drug
purchases toward generics has led pharmacy companies to take steps
to improve their performance--including a partnership by Walgreen
and European drug giant Alliance Boots with drug wholesaler
AmerisourceBergen Corp.
In the pharmacy section, same-store sales rose 8%. Same-store
prescriptions filled improved 5.1%. Pharmacy sales accounted for
65% of total sales for the month.
During March, same-store sales shrank 3.4% in the front-end of
the store. Same-store customer traffic decreased 4% while basket
size increased 0.6%.
Total drugstore sales increased 4.5% to $6.43 billion.
Write to Ben Fox Rubin at ben.rubin@wsj.com
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