Walgreen Co. revenue from established stores came in lower than Wall Street expected once again last month, as the introduction of generic drugs continued to squeeze revenue for the nation's largest drugstore chain.

The Deerfield, Ill., company said Wednesday revenue from stores open at least a year fell 6.2 percent. That included an 8.8 percent drop in pharmacy revenue and a 1.7 decline from the front end, or rest of the store. All three figures reflected steeper drops than analysts predicted.

Analysts expected, on average, an overall decrease of 5.5 percent, according to Thomson Reuters. They expected an 8.1 drop in pharmacy revenue, to be blunted in part by a decline of less than 1 percent from the front end.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.