Content about Walgreen Co.

April 4, 2013
Walgreens clinics broaden services to include chronic conditions

Walgreen Co. said Thursday that its in-store Take Care Clinics have expanded the scope of healthcare services offered beyond treating minor ailments like sinus infections to include assessment, treatment and management for chronic conditions such as hypertension, diabetes, high cholesterol, asthma and others, as well as additional preventive health services.

Deerfield, Ill. -- Walgreen Co. said Thursday that its in-store Take Care Clinics have expanded the scope of healthcare services offered beyond treating minor ailments like sinus infections to include assessment, treatment and management for chronic conditions such as hypertension, diabetes, high cholesterol, asthma and others, as well as additional preventive health services.

The new services are now available at the more than 330 Take Care Clinics located at select Walgreens (excludes clinics in Missouri).

February 8, 2013
RadioShack taps Magnacca as CEO, ‘catalyst for change’

Everybody loves a turnaround story. RadioShack is betting that the now-former president of daily living products and solutions for Walgreens, Joe Magnacca, will help author a turnaround story of its own for the small-box consumer electronics retailer.

Everybody loves a turnaround story. RadioShack is betting that the now-former president of daily living products and solutions for Walgreens, Joe Magnacca, will help author a turnaround story of its own for the small-box consumer electronics retailer.

December 5, 2012
Walgreens sales dip in November

Walgreen Co. reported that sales for November dipped 3.9% to $5.85 billion, compared with $6.09 billion for the same month in fiscal 2012.

Deerfield, Ill. -- Walgreen Co. reported Wednesday that sales for November dipped 3.9% to $5.85 billion, compared with $6.09 billion for the same month in fiscal 2012.

Total front-end sales decreased 0.3% and same-store front-end sales decreased 1.7%.

Walgreens opened 39 stores during November, including 10 relocations and closed one.

 

September 17, 2012
Alliance Boots acquires Chinese drug wholesaler stake

Swiss drugstore chain Alliance Boots said it has acquired a 12% stake in Chinese pharmaceutical wholesaler Nanjing Pharmaceutical Co. for $88.5 million.

Zug, Switzerland -- Swiss drugstore chain Alliance Boots said Monday it has acquired a 12% stake in Chinese pharmaceutical wholesaler Nanjing Pharmaceutical Co. for $88.5 million.

The deal follows Walgreen Co.’s $7 billion investment in Alliance Boots in a move to expand into China.

Alliance Boots runs the largest drugstore chain in the United Kingdom.

Walgreen’s initial plan is to acquire about 45% of Alliance Boots with an option to buy the rest of the company in three years.

 

September 6, 2012
Walgreen August sales decline, loses key Express customer

Walgreen Co. reported that same-store sales for the month of August slid 8.2%.

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.

August 22, 2012
Walgreens to use Greenway Medical Technologies’ electronic health records chainwide

Greenway Medical Technologies Inc. has entered into a deal with Walgreen Co. whereby the drug store chain will use Greenway’s electronic health records in all of its stores.

New York -- Greenway Medical Technologies Inc. has entered into a deal with Walgreen Co. whereby the drug store chain will use Greenway’s electronic health records in all of its stores.

Greenway said its records will allow Walgreen pharmacists to view a customer's entire prescription profile and health testing and immunization history even if the customer received those services at other Walgreen stores.

The service will be rolled out at all Walgreen stores by the end of next summer.

 

August 3, 2012
Walgreens’ July same-store sales down 7%

Walgreen Co. said that its same-store sales fell 7% in July as its split with Express Scripts continued to hurt its top line.

Deerfield, Ill. -- Walgreen Co. said that its same-store sales fell 7% in July as its split with Express Scripts continued to hurt its top line. (The two companies last month reached an agreement to resume doing business, but that doesn't start until Sept. 15.)

The company's pharmacy same-store sales were down 9.7%, while front end sales fell 2.4%. The performance missed analyst expectations.
 

July 5, 2012
Walgreens in deal to acquire USA Drug chain for $438 million

Walgreens Co. has entered into an agreement to acquire Stephen L. LaFrance Holdings Inc., the owner and operator of the USA Drug chain, for about $438 million, gaining stores in several Southern states.

Deerfield, Ill. -- Walgreens Co. has entered into an agreement to acquire Stephen L. LaFrance Holdings Inc., the owner and operator of the USA Drug chain, for about $438 million, gaining stores in several Southern states. The acquisition comes on the heels of Walgreens’ announcement that it was buying a 45% stake in Alliance Boots GmbH for $6.7 billion last month to expand globally.

June 19, 2012
Walgreens in $6.7 billion deal to acquire 45% stake in Alliance Boots

Walgreen Co. said it will pay $6.7 billion for a 45% stake in European health and beauty retailer Alliance Boots, which is based in Nottingham, England, with an option to buy the rest of the company in about three years.

New York -- Walgreen Co. said Tuesday it will pay $6.7 billion for a 45% stake in European health and beauty retailer Alliance Boots, which is based in Nottingham, England, with an option to buy the rest of the company in about three years. It is the first international venture and biggest deal ever for the U.S. chain.

May 3, 2012
Walgreens and Rite Aid report April results

Walgreen Co. said that same-store sales slipped a worse-than-expected 6.4% in April, largely due to its split with pharmacy benefits manager Express Scripts Inc.

New York -- Walgreen Co. said Thursday that same-store sales slipped a worse-than-expected 6.4% in April, largely due to its split with pharmacy benefits manager Express Scripts Inc.

For April, Walgreens’ same-store pharmacy sales were down 8.9%. Front-end sales fell 2.2%

At April 30, Walgreens operated 8,307 locations in all 50 states, the District of Columbia, Puerto Rico and Guam

January 5, 2012
Walgreens and Rite Aid report rise in December same-store sales

Walgreen Co. said that its same-store sales increased 0.4 percent in December, beating analysts' estimates for a decline of 0.1%.

New York City -- Walgreen Co. said Thursday that its same-store sales increased 0.4 percent in December, beating analysts' estimates for a decline of 0.1%.

Front-end sales were up 0.6%. Same-store pharmacy sales, which make up nearly 60% of total sales, rose 0.2%. Walgreen said those sales were hurt by more launches of generic drugs, as well as a milder season for coughs, colds and the flu.

Rite Aid Corp. said Thursday its December same-store sales rose 3.6%, boosted by higher pharmacy sales.

December 21, 2011
Walgreen Q1 profit falls 4.5%, misses Street

Walgreen Co. reported that profit for the quarter ended Nov. 30 dropped 4.5% to $554 million, compared with $580 million in the year-ago period.

Deerfield, Ill. -- Walgreen Co. reported Wednesday that profit for the quarter ended Nov. 30 dropped 4.5% to $554 million, compared with $580 million in the year-ago period. The drugstore operator cited a slow flu season and the decision to leave Express Scripts pharmacy network among the reasons for the performance dip.

Revenue for the quarter climbed 4.7% to $18.16 billion – a chain sales record – but missed Wall Street’s forecasted $18.24 billion in revenue. Total same-store sales rose 2.5%; front-end comps increased 2.4%.

October 11, 2011
Walgreens names exec additions to pharmacy, health and wellness division

Walgreen Co. said it has added two executives to its pharmacy, health and wellness division.

Deerfield, Ill. -- Walgreen Co. said Tuesday it has added two executives to its pharmacy, health and wellness division.

Dr. Jeffrey Kang will join the company on Oct. 31 as senior VP health and wellness services and solutions.

In addition, Mike Ellis has joined Walgreens as VP specialty pharmacy and infusion.

Most recently, Kang was chief medical officer at CIGNA. Ellis has served as senior VP specialty trade relations and contracting and pharmaceutical services for CVS Caremark.

October 5, 2011
Walgreens’ September sales up 5.4%

Walgreen Co. said Wednesday that its sales increased 5.4% in September, to $5.95 billion from $5.65 billion in the year-ago period.

Deerfield, Ill. -- Walgreen Co. said Wednesday that its sales increased 5.4% in September, to $5.95 billion from $5.65 billion in the year-ago period.

Pharmacy revenue rose 4.6%, while front end sales were up 5.1%.

Same-store sales rose 3.1%. Wall Street analysts were expecting growth of 4.6%.
 

September 27, 2011
Walgreen profit leaps 69% in Q4

Walgreen Co. reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.

Deerfield, Ill. -- Walgreen Co. reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.

Net income for the quarter ended Aug. 31 rose to $792 million, up from $470 million in the year-ago period and surpassing Wall Street expectations.

Revenue rose 6.5% to $18 billion and same-store sales increased 4.4%.

July 28, 2011
Walgreens settles prescription billing lawsuit in Connecticut

The State Attorney’s office in Connecticut said Thursday that Walgreen Co. has settled a civil lawsuit with state and federal officials who accused the retailer of double-billing the government for prescription drugs.

Hartford, Conn. -- The State Attorney’s office in Connecticut said Thursday that Walgreen Co. has settled a civil lawsuit with state and federal officials who accused the retailer of double-billing the government for prescription drugs.

Walgreen has reimbursed the government for billing errors made between June 1, 2006, and Aug. 31, 2008, and admitted no wrongdoing in the settlement.
 

July 13, 2011
Walgreen OK’s $2 billion stock buyback

Walgreen Co. said Wednesday its board has authorized a new $2 billion stock buyback program.

Deerfield, Ill. -- Walgreen Co. said Wednesday its board has authorized a new $2 billion stock buyback program.

The drugstore retailer completed a previously announced $1 billion stock buyback program and now has approved a new $2 billion share repurchase program that expires Dec. 31, 2015.
 

June 21, 2011
Walgreen to split with Express Scripts, reports 30% rise in Q3 profit

Walgreen Co. said Tuesday it will terminate a $5.3 billion-per-year relationship with Express Scripts.

Deerfield, Ill. -- Walgreen Co. said Tuesday it will terminate a $5.3 billion-per-year relationship with Express Scripts.

Walgreen reported that contract negotiations with Express Scripts have failed, and it will stop participating in the St. Louis company's prescription plans starting Jan. 1. Express Scripts processes about 90 million prescriptions that will be filled at Walgreen stores in fiscal 2011, which will bring Walgreen about $5.3 billion in revenue.

June 17, 2011
Chicago mayor meets with retailers about food ‘deserts’

Chicago Mayor Rahm Emanuel met with executives from six grocery chains, including Walgreen Co.

New York City -- Chicago Mayor Rahm Emanuel met with executives from six grocery chains, including Walgreen Co. Wal-Mart Stores and Aldi about eliminating food “deserts” in six Chicago neighborhoods, the Associated Press reported.

Emanuel showed a detailed map of Chicago food deserts and made business cases to the grocery executives for specific properties in each food desert area. He said 450,000 Chicagoan's don't have access to fresh food.

June 3, 2011
Walgreen sales up 5.6% in May, completed acquisition

Walgreen Co. said its same-store sales role 5.6% in May, better than Wall Street expected.

Deerfield, Ill. -- Walgreen Co. said its same-store sales role 5.6% in May, better than Wall Street expected.

Walgreen said pharmacy revenue from those stores rose 6.7% as it filled 7.1% more prescriptions. Front-end same-store sales grew 3.6%.

The company also said it completed its acquisition of Drugstore.com, an online health and beauty retailer. Walgreen agreed to buy the company in March for $429 million.

April 28, 2011
Walgreens to buy 10 Carle RxExpress

Walgreen Co. has agreed to buy 10 Carle RxExpress pharmacies in east central Illinois.

Deerfield, Ill.  -- Walgreen Co. has agreed to buy 10 Carle RxExpress pharmacies in east central Illinois.

The chain did not disclose terms of the deal. It expects the sale to close by July. Walgreen said it will continue to run six of the pharmacies and will consolidate a seventh into the others. It will close three other locations and transfer prescription files and inventory to nearby Walgreen locations.

The stores are currently owned by The Carle Foundation, a not-for-profit company based in Urbana, Ill.

March 22, 2011
Walgreen Q2 profit rises 10%

Walgreen Co. reported Tuesday that net income for the quarter ended Feb. 28 rose to $739 million, compared with $669 million in the year-ago period.

Deerfield, Ill. -- Walgreen Co. reported Tuesday that net income for the quarter ended Feb. 28 rose to $739 million, compared with $669 million in the year-ago period. However, gross profit margin remained flat at 28.8%, disappointing Wall Street, which expected more from the drugstore operator.

Revenue climbed 9% to $18.5 billion. Same-store sales and prescription sales each rose 4%.

March 9, 2011
Walgreens selling pharmacy benefits management unit for $525 million

Walgreen Co. said Wednesday it is leaving the pharmacy benefits management business, selling its Walgreens Health Initiatives operation to Catalyst Health Solutions Inc. for $525 million in cash.

Deerfield, Ill. -- Walgreen Co. said Wednesday it is leaving the pharmacy benefits management business, selling its Walgreens Health Initiatives operation to Catalyst Health Solutions Inc. for $525 million in cash. The deal will leave Walgreens free to focus on its drug store network, which is the largest in the United States.

Walgreens’ pharmacy benefits management business has never approached the size of Caremark, the pharmacy benefits management business of CVS Caremark Corp.,

February 25, 2011
Walgreens senior health exec to retire

Walgreen Co. said Friday that Hal F. Rosenbluth, president of the drug retailer’s health-and-wellness division, will retire in April. He will, however, stay on as a senior consultant to the CEO for healthcare services.

Deerfield, Ill. -- Walgreen Co. said Friday that Hal F. Rosenbluth, president of the drug retailer’s health-and-wellness division, will retire in April. He will, however, stay on as a senior consultant to the CEO for healthcare services.

Rosenbluth was a co-founder of Take Care Health Systems, which was acquired by Walgreens in 2007.

December 14, 2010
Walgreen, McDonald's e-mail databases breached

A report Monday by Associated Press said that Walgreen Co., McDonald's and Twitter each reported unrelated security breaches, involving customer e-mail addresses and other private information.

San Francisco -- A report Monday by Associated Press said that Walgreen Co., McDonald's and Twitter each reported unrelated security breaches, involving customer e-mail addresses and other private information.

Walgreen said hackers who gained access to a list of customer e-mail addresses may have sent spam directing customers to enter personal data into outside websites.