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Walgreens Comps Advance Through February, Q2

Wednesday March 5th, 2014 - 11:33AM

Walgreens posted February sales of $6.05 billion up 5% from the same month in fiscal 2013. Total front-end sales, including general merchandise such as home goods, increased 3% compared with February 2013, while comparable store front-end sales gained 2%.

Customer traffic in comparable stores decreased 0.7% while basket size increased 2.7%, the company related.

February pharmacy sales increased by 6.7% as comparable store pharmacy sales increased 6.1%, the company stated. Overall, Walgreens February sales in comparable stores increased by 4.5%.

Total sales for the second quarter of fiscal 2014, which ended February 28, were $19.61 billion, up 5.2% from the prior-year's quarter. Comparable store sales advanced 4.5% as front-end comps increased 2% and pharmacy comps gained 6.1% versus the year-earlier quarter, Walgreens maintained.

The company asserted that severe winter weather negatively impacted second quarter front-end comps by an estimated 0.6 of a percentage point.

Walgreens pointed out that it opened eight stores during February, including five relocations.

As of February 28, Walgreens operated 8,681 locations in all 50 of the United States, the District of Columbia, Puerto Rico, Guam and the U.S. Virgin Islands including 8,209 drugstores, 138 more than a year earlier, with 60 net stores acquired over the last 12 months. Walgreens also operates infusion and respiratory services facilities, specialty pharmacies and mail service facilities, while its Take Care Health Systems subsidiary manages more than 750 in-store convenient care clinics and worksite health and wellness centers.