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Walgreen Company (NYSE:WAG) Closes September On A Positive Note

Boston, MA 10/06/2014 (wallstreetpr) – Walgreen Company (NYSE:WAG) is opening a new leaf of the new fall season on a higher note. The medical company said on Friday that its sales jumped by nearly 9.4% to $6.48 billion in September as against the sales recorded in the previous year during the same month. The reports add on the optimistic statement released by the company last week. It said that the company has reached its fourth quarter earnings per share target and has exceeded the Wall Street estimates in terms of revenue due to increased prescriptions.

Sales Improved

In its note to investors, Walgreen Company (NYSE:WAG) highlighted that the sales of home and health related goods went up 2.2% during the previous month. While front end sales of comparable stores grew at a pace of 1.7%. In addition to this, the company reported a surge in administration of flu shots to over 2.1 million at clinics and pharmacies as against 1.9 million in the previous year. At the same time, the company reported that the prescriptions filled at comparable stores surged by 6.6% in the month of September while it increased by 3.9% in a calender day-shift basis. The report did include some not so inspiring data, such as the customer traffic declined 2.7% in comparable stores, continuing a trend from the previous quarter.

Partners WebMD

A day earlier to this report, Walgreen Company (NYSE:WAG) had informed investors about its partnership with WebMD Health Corp. (NASDAQ:WBMD), a website based company. Through this partnership, the company will be able to reach out to customers through virtual wellness coaching programs to be initiated by WebMD. Even Walgreen customers too could access the website. A report from the company helped its shares to rise by nearly 2% during pre-market session on the day. The company’s competitor and the number three drugstore company Rite Aid Corporation (NYSE:RAD) to announce its same store sales and frontend comparable on Thursday, which increased by 5.1% and 2.3% respectively.

Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.

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