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Second-quarter profits up 10% at Walgreens

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DEERFIELD, Ill. — Net income for the second quarter of fiscal 2011 rose 10.5% to $739 million at Walgreen Co. as sales increased 8.9% to $18.5 billion.

Net income for the second quarter of fiscal 2011 rose 10.5% to $739 million at Walgreen Co. as sales increased 8.9% to $18.5 billion.

Comparable-store sales grew 4.1% , driven by front-end results that improved 4.3%. Comparable-store pharmacy sales expanded 3.9%, but the number of prescriptions filled rose 6.9% to 205 million.

"We achieved a milestone during the quarter by filling one of every five retail prescriptions for the first time in company history," said president and chief executive officer Greg Wasson in a statement. "Our front-end sales were led by great execution from our merchandising, marketing and operations teams, resulting in a strong holiday season in December and a strong Valentine’s Day performance in February."


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