Pharmacy operator Walgreen Co. said Thursday that a key revenue metric fell 10 percent in June, as it took another step to battle a sales slump by acquiring a regional drugstore chain.
The sales slump for Deerfield, Ill.-based Walgreen has been driven largely by its split with pharmacy benefits manager Express Scripts Holding Co.
Walgreen said revenue from stores open at least a year sank 10 percent last month as the introduction of some generic drugs also hurt sales. Revenue from stores open at least a year is considered a key indicator of retailer health because it isn't skewed by stores that recently opened or closed.
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