By Dow Jones Business News,
July 03, 2014, 08:33:00 AM EDT
By Erin McCarthy
Walgreen Co. ( WAG ) on Thursday said same-store sales rose 7.5% in June, as higher pharmacy sales helped offset lower
Overall sales jumped 8.9% to $6.28 billion.
Last month, Walgreen reported weaker-than-expected earnings for its fiscal third quarter. Drugstore retailers' sales
and margins have been pressured by a wave of major generic-drug introductions. Walgreen said generic introductions
dragged down same-store sales by 0.9 percentage points in the last 12 months.
Consumers' shift toward generics has led pharmacy companies to take steps to improve their performance, including a
partnership by Walgreen and European drug giant Alliance Boots with drug wholesaler AmerisourceBergen Corp.
Walgreen said same-store sales in the pharmacy section rose 11.3% in June. Same-store prescriptions filled improved
7.3%. Pharmacy sales accounted for 65.2% of total sales for the month.
During June, same-store sales edged up 1.3% in the front end of the store. Same-store customer traffic slipped 2%,
while basket size rose 3.3%, Walgreen said.
Write to Erin McCarthy at email@example.com
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