Walgreen Second-Quarter Net Income Up Nearly 25%

Walgreen , the nation's largest drugstore chain by revenue, on Monday said fiscal second-quarter net income rose nearly 25% as sales at established stores increased on the strength of a strong retail prescription business.

Net income increased to $651.9 million, or 65 cents per share, for the quarter ended Feb. 28 from $523.5 million, or 51 cents per share, in the year-ago period.

Revenue grew 14% to $13.93 billion, from $12.16 billion last year.

Analysts polled by Thomson Financial expected net income of 61 cents on revenue of $13.89 billion.

Same-store sales, or sales in stores open at least one year, a key measure of retail industry performance, grew 8.9%. Prescription sales grew 16%, with same-store prescription sales rising 11%.

Front-end, or non-prescription, same-store sales rose 5.7%. Walgreen said front-end sales were strong, especially during Christmas, and prescription sales growth outpaced retail pharmacy and mail service pharmacy units.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Private Jet

    Like migrating birds, private jet setters follow a basic instinct when it comes to their flight paths: They follow better weather.

  • Fake Apple Watches... can you tell the difference?

    CNBC's Eunice Yoon reports Apple Watch is officially available today but already fake watches are hitting the streets.

  • Alphorn players perform in Nendaz, Switzerland.

    Switzerland is the happiest place on Earth, thanks to its high performing GDP and healthy life expectancy rates of its citizens.

U.S. Video