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Latest Business News

Walgreen 2Q Profit Rises

Monday, March 26, 2007 4:37:13 PM
By ASHLEY M. HEHER

Kala Rathi shops at a Walgreens drugstore in the Hollywood selection of Los Angeles, Monday, March 26, 2007. Walgreen Co., the nation's largest drugstore chain by revenue, on Monday said fiscal second-quarter net income rose nearly 25 percent as sales at established stores increased on the strength of a strong retail prescription business. (AP Photo/Nick Ut)CHICAGO (AP) - Robust prescription drug sales helped drugstore chain Walgreen Co. earnings increase nearly 25 percent in the second quarter, company officials said Monday.

The nation's biggest drugstore chain by revenue earned $651.9 million, or 65 cents per share, for the three months ended Feb. 28. That's up from $523.5 million, or 51 cents per share, during the same period last year.

"We posted very good gains in prescriptions filled at comparable stores even though this winter saw fewer than normal doctor visits due to the flu," Chief Executive Jeffrey A. Rein said in a written statement.


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