Walgreen comparable revenue grows 4.9 pct. in Oct.

DEERFIELD, Ill. - Drugstore chain Walgreen Co. said Tuesday sales at locations open at least one year rose 4.9 percent in October due to high demand for seasonal flu shots.

At its established stores, Walgreen said pharmacy revenue increased 5 percent and revenue from the rest of the store grew 4.7 percent. Sales at stores open for at least a year are considered a critical measurement of retailer performance.

At locations open at least a year, seasonal flu shots improved pharmacy revenue by 1 percent, while greater use of low-cost generic drugs reduced revenue by 2.2 percent.

Prescriptions at locations open at least a year rose 8.6 percent, including a benefit of 2.4 percent from seasonal flu shots, and 1.3 percent from greater use of 90 day mail-order prescriptions.

The company said its October revenue rose climbed 9.4 percent to $5.65 billion from $5.16 billion. Pharmacy revenue grew 9.3 percent.

Walgreen opened 69 stores in October and relocated eight other stores. That gave the company a total of 7,105 drugstores at the end of the month. Walgreen also runs about 500 worksite health centers, home care facilities, and specialty, institutional and mail order pharmacies.

In morning trading, Walgreen shares were unchanged at $38.71.

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