Walgreens (WAG) Reports Increase in August Same-Store Sales

Walgreens (NYSE: WAG) had August sales of $4,621,200,000, an increase of 10.3% from $4,191,489,000 for the same month in 2006. Sales in comparable stores (those open at least a year) rose 6.5%. Comparable store front-end sales increased 6.6% during August.

August pharmacy sales increased 9.9%, while comparable pharmacy sales increased 6.5%. Comparable pharmacy sales were negatively impacted by 4.2 percentage points due to generic drug introductions in the last 12 months. Total prescriptions filled at comparable stores increased 3.4%. Pharmacy sales accounted for 66.4% of total sales for the month.

Total sales for fiscal 2007, which ended Aug. 31, were $53,757,732,000, up 13.4% from $47,408,951,000. Comparable store sales for fiscal 2007 increased 8.1%.

Walgreens also announced it expects to open 550 stores in fiscal 2008, with 475 net new stores after relocations and closings. During fiscal 2007, Walgreens opened 615 new stores, including 115 acquisitions, for an increase after relocations and closings of 531 stores.

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