Walgreen Co.'s fiscal first-quarter earnings sank nearly 26 percent as the nation's largest drugstore chain filled fewer prescriptions and absorbed costs tied to acquisitions and Superstorm Sandy.
The Deerfield, Ill., company's performance fell short of Wall Street expectations, and the stock slipped Friday morning.
Walgreen said the storm system that swept up the East Coast in late October cost $24 million in the quarter, as it temporarily closed hundreds of stores. Acquisition-related costs totaled $23 million in the quarter.
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
Already have an account? Sign In Now
© 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.
