The Walgreen Company (WAG) saw a decline in sales in October, partially due to the impact of Hurricane Sandy.
The Deerfield, Illinois based company saw October total sales of $6.00 billion, a decrease of -2.1% from $6.13 billion for the same month in fiscal 2012. Comparable front-end sales decreased -2.9% compared to October of last year.
Approximately 750 of 1,400 stores in the impacted area were closed due to Hurricane Sandy, impacting sales data. Nearly all of those locations have since reopened.
From October 1 to October 25, thus discounting the effect of the storm, comparable front end sales were still down -2.4%.
Walgreen shares were down 17 cents, or -0.49%, in premarket trading on Monday.
The Bottom Line
Shares of Walgreen Company (WAG) have a 3.15% dividend yield, based on Friday’s closing stock price of $34.89. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $36-$37 price levels.
Walgreen Company (WAG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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