Walgreen (WAG) Shares Sink as Q4 Sales Decline YoY
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Price: $49.81 +0.40%
Revenue Growth %: 0.0%
Financial Fact:
Net earnings per common share - diluted: 0.79
Today's EPS Names:
RAVN, CAMT, HAST, More
Revenue Growth %: 0.0%
Financial Fact:
Net earnings per common share - diluted: 0.79
Today's EPS Names:
RAVN, CAMT, HAST, More
Trade WAG Now!
Shares of Walgreen Company (NYSE: WAG) declined early on Friday after the company reported results for the fourth quarter and revenue that was a hair below estimates ($17.1 billion vs. $17.16 expected). Revenue was $17.97 billion in same quarter of 2011, representing a 5.0 percent decline. Fourth quarter EPS came in at $0.63, 7 cents better than the analyst estimate of $0.56 and a 3 cent improvement from 2011.
Front-end comparable store sales decreased 1.3 percent in the fourth quarter, customer traffic in comparable stores decreased 3.2 percent and basket size increased 1.9 percent, while total sales in comparable stores decreased 8.7 percent.
Prescription sales, which accounted for 63.3 percent of sales in the quarter, decreased 8.1 percent, while prescription sales in comparable stores decreased 12.8 percent. The company filled 188 million prescriptions, a decrease of 6.9 percent over last year’s fourth quarter. Prescriptions filled in comparable stores decreased 8.0 percent in the quarter.
"This was a challenging, but very important year for Walgreens, and we finished with a tough quarter. While we controlled costs and generated strong cash flow in the fourth quarter, our performance also reflected a strategic shift in promotional spending, a continued economically challenged consumer, and the impact from Express Scripts," said Walgreens President and CEO Greg Wasson. "Entering the new fiscal year, we believe we are positioned for growth as we benefit from the launch of our Balance Rewards loyalty program, our reentry into the Express Scripts pharmacy provider network and our execution of the Alliance Boots strategic partnership."
Shares of WAG last traded at $36.52, down 0.22%.
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Front-end comparable store sales decreased 1.3 percent in the fourth quarter, customer traffic in comparable stores decreased 3.2 percent and basket size increased 1.9 percent, while total sales in comparable stores decreased 8.7 percent.
Prescription sales, which accounted for 63.3 percent of sales in the quarter, decreased 8.1 percent, while prescription sales in comparable stores decreased 12.8 percent. The company filled 188 million prescriptions, a decrease of 6.9 percent over last year’s fourth quarter. Prescriptions filled in comparable stores decreased 8.0 percent in the quarter.
"This was a challenging, but very important year for Walgreens, and we finished with a tough quarter. While we controlled costs and generated strong cash flow in the fourth quarter, our performance also reflected a strategic shift in promotional spending, a continued economically challenged consumer, and the impact from Express Scripts," said Walgreens President and CEO Greg Wasson. "Entering the new fiscal year, we believe we are positioned for growth as we benefit from the launch of our Balance Rewards loyalty program, our reentry into the Express Scripts pharmacy provider network and our execution of the Alliance Boots strategic partnership."
Shares of WAG last traded at $36.52, down 0.22%.
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