Walgreen's Sees Higher Sales in January, Despite Lower Store Traffic (WAG)

Walgreen’s Sees Higher Sales in January, Despite Lower Store Traffic (WAG)

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Drugstore chain, Walgreen Company (WAG) reported increased monthly sales for January, obtaining significant revenue from its pharmacy sales.

The Deerfield, IL based company reported January sales of $6.15 billion, a 6.3% upside from $5.87 billion from January of 2012.

Front end sales increased 1.3% from 2012, while total customer traffic saw a -2.85 decrease. On the upside, basket size increased by 2.8% in January. Store front-end sales dropped by 0.4 percent.

Pharmacy sales were boosted 8.7%, partially due to the active flu season this year. Total flu shots given reached 6.9 million, 20% more than 5.5 million last year. Pharmacy sales accounted for 65% of revenue for the month.

Additionally, the company said that enrollment for Walgreen’s Balance Rewards loyalty program totaled 55 million in in January.

Walgreens shares were up 90 cents, or 2.25% during Tuesday morning trading. The stock has increased 21.5% in the past year.

The Bottom Line
Shares of WAG currently offer a 2.69% yield, based on Tuesday morning’s price of $40.93 and the company’s annualized dividend payout of $1.10 per share.

Walgreen Company (WAG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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