Walgreens Posts Record Sales

DEERFIELD, IL-Walgreens posted record sales of $11 billion during its Q2, which ended Feb. 28, and also reported a year-over-year same-store sales jump of 7.7%. The sales were boosted by strong front-end and pharmacy transactions, notes Rick Hans, the company’s director of finance.

Sales were up 12.8% from the same period last year. Walgreens’ net earnings rose 13.7%, to $490.9 million during the quarter. The results were slightly impacted by a $3 million expense due to, like most retailers, a change in the chain’s lease accounting methods.

Pharmacy sales accounted for 61.2% of the Walgreens’ total transactions, down slightly from the previous quarter because the company’s Q2 includes holiday sales, when more front-end items are acquired in stores. The chain gained market share in all 56 of its core categories, Hans says.