By Erin McCarthy
Walgreen Co. (WAG) on Thursday said same-store sales rose 7.5%
in June, as higher pharmacy sales helped offset lower customer
traffic.
Overall sales jumped 8.9% to $6.28 billion.
Last month, Walgreen reported weaker-than-expected earnings for
its fiscal third quarter. Drugstore retailers' sales and margins
have been pressured by a wave of major generic-drug introductions.
Walgreen said generic introductions dragged down same-store sales
by 0.9 percentage points in the last 12 months.
Consumers' shift 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.
Walgreen said same-store sales in the pharmacy section rose
11.3% in June. Same-store prescriptions filled improved 7.3%.
Pharmacy sales accounted for 65.2% of total sales for the
month.
During June, same-store sales edged up 1.3% in the front end of
the store. Same-store customer traffic slipped 2%, while basket
size rose 3.3%, Walgreen said.
Write to Erin McCarthy at erin.mccarthy@wsj.com
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