Record quarter sales of $15 billion (up 9.6% over last year)will only grow as baby boomers hit their senior years, saidChairman and CEO Jeffrey A. Rein. Net earnings for the quarter rose2% over the previous year to $572 million. Total comp-store salesrose 3.4%.
"In spite of the current environment, nothing will slow theimpact of nearly 80 million baby boomers moving into their chiefprescription-use years," Rein said. "This is a very good businessto be in for the long term."
Walgreens will open 550 new drugstores this year, with a netincrease of more than 500, expanding its drugstore base byapproximately 9% in fiscal 2008. This is higher than its moretypical 8% growth, boosted by swifter-than-normal entitlementprocesses, and is unlikely to be repeated.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
