Walgreen Laments Slow Flu Season

Swine influenza competence be bad for your health, but the a progress to drugstore bondage similar to Walgreen.That meant difficulty in the majority not long ago finished entertain though, when sales of influenza vaccinations and cold remedies, that had surged, forsaken off as influenza deteriorate incited out to be weaker than anticipated. Walgreen ( WAG - news - people ) doled out only 2 million influenza shots in the second quarter, down from 5 million in the prior three-month period, and on Tuesday the association voiced the second-quarter gain fell short of analysts" expectations. emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/23/walgreen-cvs-caremark-markets-equities-pharmacies.html?partner=yahoobuzzThe Deerfield, Ill.-based association warranted $669 million, or 68 cents per share, up 4.5% from $640 million, or 65 cents per share, in the year-ago quarter. Excluding one-time restructuring charges, Walgreen warranted 70 cents per share. Sales for the duration finale Feb. twenty-eight climbed to $17 billion, up from $16.5 million in the second entertain of 2009. Wallgreen fell short of the estimates of analysts polled by Thomson Reuters, who likely gain of 71 cents per share on sales of $17.2 billion. Despite the miss, the drugstore operators shares ticked up 51 cents, or 1.4%, to $35.84 in Tuesday sunrise trading. Sales of front-end equipment similar to cosmetics, magazines and snacks fell 1.6% at stores open at slightest one year. Total same-store sales forsaken 0.2% in the second quarter. The one progress in the entertain came from medication sales, that jumped 3.2% as some-more business filled 90-day orders.In Feb Wallgreen concluded to compensate $618 million in money and pretence $457 million in debt to squeeze the 257 New York-area stores of Duane Reade, but the understanding wouldnt reap one more gain until 2012 due to accounting manners that need a apportionment to be expensed rather than capitalized. (See "I"ll Take Manhattan.")Rivals in the industry were churned Tuesday. CVS Caremark gained 67 cents, or 1.9%, to $35.85; Rite Aid ( RAD - news - people ) ticked up one cent, or 0.9%, to $1.65; and Drugstore.com ( DSCM - news - people ) lost dual cents, or 0.5%, to $3.70.
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