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