Walgreen’s Revenue Grows, Even as Generics Grow
DEERFIELD, Ill. (AP) _ Walgreen’s revenue from established stores topped
analyst expectations for May, even though a rise in generic drugs continues to
dent the top line of the nation’s largest drugstore chain.
The Deerfield company says today that revenue from stores open at least a year
increased 2.8 percent last month compared with May 2012. That included a 3.8
percent gain from the pharmacy, which accounted for most of its sales. The
company also had a 1.2 percent increase from sales in the rest of the store.
Revenue at stores open at least a year is a key indicator of a retailer’s
health, because it excludes the impact of recently opened or closed stores.
Analysts surveyed by Thomson Reuters expected that total revenue from
Walgreen’s established stores would grow 2.4 percent last month. They also
forecast growth of 2.7 percent from the pharmacy.