Walgreen August sales decline, loses key Express customer

Deerfield, Ill. -- Walgreen Co. reported Thursday that same-store sales for the month of August slid 8.2%. The report came on the heels of Wednesday’s announcement that Tricare would not reinstate the drug retailer into the pharmacies approved to fill prescriptions.

Tricare, which provides medical benefits for U.S. military members and their families, said on its website that it will continue to keep Walgreen out of its pharmacy network, despite the July resolution between Walgreen and Express Scripts Holding Co., the company that processes prescriptions for Tricare. Express Scripts and Walgreen will resume doing business on Sept. 15, but Tricare’s announcement has analysts questioning how many Express Scripts clients will allow Walgreen's back into their networks.