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Walgreen’s 3Q Misses, Shares Slip – Zacks Tale of the Tape

Source: http://www.zacks.com/stock/news/21326/Walgreen%27s+3Q+Misses%2C+Shares+Slip+-+Zacks+Tale+of+the+Tape
 Posted on Monday, June 22nd, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -


Walgreen Co. (WAG) reported fiscal third-quarter earnings of 53 cents per share, missing the consensus forecast by 3 cents despite higher sales.

Revenue expanded 8% to $16.2 billion, while same-store sales grew 3%.

The company said prescription sales, which comprised nearly 66% of revenue, increased 8%.

Walgreen also said that it launched 162 new drugstores in the quarter, compared to 122 in the year-ago period.

The consensus estimate for the year ending August 2009 declined by a penny over the past 2 months to $2.05 per share.

Meanwhile, next fiscal year’s average forecast has moved up a penny over the past week to $2.30 per share, as 2 out of 21 covering analysts raised expectations.

WAG, a Zacks #3 Rank (”Hold”) stock, has slipped more than 6% on heavier-than-usual volume of approximately 14.5 million, against the average daily volume of about 6.7 million.

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No Responses to “Walgreen’s 3Q Misses, Shares Slip – Zacks Tale of the Tape”

  1. Del Monte Boosts Dividend by a Penny (DLM) Says:
    June 23rd, 2009 at 1:01 am

    [...] Walgreen’s 3Q Misses, Shares Slip – Zacks Tale of the Tape Walgreen Co. ( WAG ) reported fiscal third-quarter earnings of 53 cents per share, missing the consensus forecast by 3 cents despite higher sales. Revenue expanded 8% to $16.2 billion, while same-store sales grew 3%. The company said prescription sales, which comprised nearly 66% of revenue, increased 8%. Walgreen also said that it launched 162 new drugstores in the quarter, compared to 122 in the year-ago period. The consensus estimate for the year ending August 2009 declined by a p Share and Enjoy: [...]

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