Walgreen Opens 7,000th Store

" It is a red letter day for Walgreen the company officially celebrating the opening of it's 7000. Store in Brooklyn new York and joining us talk about that health care reform go to the consumer is Greg Lawson Walgreens president. And CEO joins us of what looks like the NASDAQ -- morning to you Greg -- are going to be back congratulations. 7000 is as a milestone is that she."

" is you know we we such that has a goal over the past decade. And I would read about 3000 stores and we're excited to be celebrated an opening in Brooklyn. Later this afternoon uncle and their Coney Island and quite an accomplishment we're really excited. You know we've really been limited to. Organically grow our Jane we could think we have some of the best locations across the country now as a result -- as although you're going to be slowing down store growth you said this right both and twenty tenants 111. Yeah we we did led by 2011 going to slow down about two and a half to three and a half percent growth. We hit 9% in 2000 Carl -- when you think about. You know on top of 7000 stores -- a lot of growth that's a Lotta stores -- we really want to kind of focus on those 7000 stores now. To make sure we can just really become more more relevant in today's consumer. Are speaking of the consumer. We've tried jump before and I think the mood of the time was there spending a lot more on Staples not know many. Not as many impulse purchases and a private label any any shift and that trend that's still think I'm the same thing you know we still sit cautious consumer you know their with all the consumer confidence index a couple days ago it still is still indicates that. They're looking for needs the Myanmar consumables as we said the or put a lot of emphasis on making sure that we've got those items we and we're shouting -- wear them."

" As health care reform progresses through congress. What's you're assessment of the state of affairs right now are are you pleased that so far the Senate that committee -- Flight path down the public option."

" Well I think the devil in the details yet as I said a couple months ago to see what comes out that I think. You know but I do think that long term. More focused on the prevention and management chronic disease and health of Wallace is certainly where we need to be going and where we will go. -- I think you know wouldn't do much to see what comes out. You know finance committee. As -- premature for -- gunmen on that you know I think we're well positioned just like we were the -- the seasonal this flu this season's flu shot. You were on the for a lot of health care we've got to some of the most trusted accessible health care professionals. There are there to really play a bigger role on health and wellness. And prevention of chronic disease -- how well positioned to argue with your hiring left with your our staffing levels right now. Yeah we're we're pretty good shape -- no actually adding jobs and you know we're still opening you know 454 to 450 stores even when we -- slowdown to two and a half to three and a half percent who have left and that's still about 300 stores so. You know we're still going to there was -- growth company."

" 200 Mike Collins sitting here with with the three of them like quick question for you with regard to your view of the near and intermediate term future. I speaking to someone last night hedge fund a successful person. So you are the -- in what you do so people in the end retail business should listen. What you are planning for the next several quarters things to be tougher we we just heard from challenger -- that things are getting a little bit better. You're going in back into the beer and wine business you re re designing the store growth a little bit. You're you're planning for things to be a little bit could you give us your view of how you see the next day a year to. With the consumer."

" Yeah as I -- I think we're going to see they're cautious consumer and and you know we're certainly looking. -- to prepared for that type of consumer I think they'll the change we see you will be lasting. And I think people are now worried about. Keep in their homes unemployment pay down credit cards we certainly see think he's going up. So we're focused on that type a consumer and I think we'll see one and is really focused on value. And that is looking for folks to step up and help them. With that value and that's what we think were extremely well positioned awarded seven housing communities across the country with a -- Brooklyn. This afternoon. And and I think that we're in communities and we can really become you know a big part of their solution you're going to be heading out to H one and when shots right. Well -- the details on that Carly -- what we're doing right now we're you know the seasonal flu shot right alien right but I we're we're actually doubled last year were about -- over two and a -- heard a little over a million last year -- how much a pop. About 449 -- but I think. Think the real thing they're Karl is is is the accessibility we brought to this solution you know we have 16000. Certified pharmacist nurse practitioners -- across the country. They're really stepped up and played a big role in this and that's why we do we can help me apart we'd be a big part of H1N1. Solution depended on how that's rolled out we're working with -- all the states as we speak."

" And this in this model though where you're actually providing the health care not just the prescriptions. You plan to increase that it can you do more and more about."

" I think whereas -- again that's really our focus we have a -- we have an initiative going on now we're looking at all the task and all the administrative work. That our pharmacist do every day and stores were kind of taking that out -- more and more efficient manner. In its centralized locations and and and the reason for that is I want to position our pharmacists. To be more available to -- early work with -- patients that what we call the point of care to help change behavior toward better health and wellness and better manage their chronic disease."

" ridiculous walkers through the kind of roller coaster ride that you've gone through over the past year. We were going to banking panic -- my my my guess is you guys at least put off a few decisions and where you now in that continue."

" Well they get you look back over the past year you know part of slowing the store growth is that was the bill to reinvest back and our -- 7000 stars. We've kicked off a major initiative that we call ends early rewiring for growth which is focused on on cost reductions and improving productivity. We set a goal to target of billion dollars and and cost reduction by 2011. We're on track for that. I think our store people have really done -- a great job in controlling expenses and and in this tough environment so. -- just too much good. -- I don't I don't think we did I think I think we're actually focused on. You know the right growth now and again at two and have 3% system gives us that they you know that the store growth that we need to continue to penetrate the areas were not in yet. Really allows us to focus on what we think is an incredible asset. And that's a fact -- 7000 theaters across the country so we -- invest back in those parents were putting things in -- that we do think. Female shoppers today will see us -- us as a convenient place to shop."

" And it traffic my ears perked up when you mentioned that the liquor departments although we also notice as as you stock more you focus on Staples. You're cutting out things like impulse items I read you're not are you know are going to carry Chia Pets is that true. About how tough. Aren't. -- he loved Clinton -- I don't know if there's with the public service nightmare did I. That it is a great those resolutions on 7000."