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Walgreens (NYSE:WAG) (NASDAQ:WAG) had February sales of $4,928,900,000, an increase of 14.5 percent from $4,303,240,000 for the same month in 2007. Sales in comparable stores (those open at least a year) rose 8.3 percent, while comparable store front-end sales increased 8.2 percent. This year’s February sales benefited from one extra day because of leap year. Sales in comparable stores for 28 days this year compared with 28 days last year rose 4.2 percent, while comparable front-end sales for 28 days increased 4.6 percent.
February pharmacy sales increased 14.7 percent, while comparable pharmacy sales rose 8.3 percent (4.1 percent for 28 days). Comparable pharmacy sales were negatively impacted by 4.6 percentage points on a 28-day comparison due to generic drug introductions in the last 12 months. Total prescriptions filled at comparable stores increased 7.4 percent (3.2 percent for 28 days). Pharmacy sales accounted for 64.5 percent of total sales for the month.
While more flu cases were reported during February, flu-related prescriptions did not reach the level of a year ago. Also impacting prescriptions was the late January switch of the drug Zyrtec from prescription to non-prescription status. The combined negative impact on February prescriptions filled for flu and Zyrtec was 1.4 percent on a 28-day comparable basis. Positively impacting front-end sales were a strong Valentine’s Day season, and the introduction of over-the-counter Zyrtec and the comparable Walgreen private brand product, Wal-Zyr.
Calendar 2008 sales were $9,886,045,000, an increase of 12.0 percent from $8,824,433,000 in 2007.
Fiscal 2008 year-to-date sales for the six months were $29,426,758,000, up 10.5 percent from $26,642,197,000. Comparable store sales for the fiscal year to date increased 5.1 percent.
Walgreens opened 66 stores during February, including seven relocations, and closed two stores.
At Feb. 29, Walgreens operated 6,237 drugstores (including 89 home care division locations, 12 specialty pharmacies and two mail service facilities) in 49 states and Puerto Rico, versus 5,641 a year ago. The company also operates 146 Take Care Health Clinics. Franchisees of Option Care, Inc., a wholly owned subsidiary of Walgreens, are not included in Walgreens store count.
Walgreens will release second quarter 2008 earnings on Monday, March 24, at 7 a.m. CT. At 7:30 a.m. CT, the company will host a live earnings conference call with CEO Jeffrey A. Rein, President Gregory D. Wasson and CFO William M. Rudolphsen.