WalgreenDrugstore chain Walgreen Co. (WAG) posted earnings of 49 cents per diluted share for the quarter, compared with 44 cents per share a year ago.

Sales for the quarter rose 7.4% to $16.9 billion in the quarter ended Aug. 31, the company said in a statement. Comparable store sales, not including Duane Reade stores, rose 1.5%.

"The double-digit increase in fourth quarter earnings per share was driven by strong operating performance across our 7,500-store network and expense control companywide," said Walgreens CEO Greg Wasson.

The figure for earnings per share includes the impact of 4 cents per share associated with the Duane Reade acquisition and 1 cent per share in restructuring costs associated with the company's Rewiring for Growth initiative.

For fiscal 2010, net earnings per share rose 5% to $2.12 per share. Sales were $67.4 billion.

The company also completed its $2 billion share repurchase program in the quarter.

Increase your money and finance knowledge from home

Investing in Real Estate

Learn the basics of investing in real estate.

View Course »

Investing Like Warren Buffett

Learn from one of the world's best investors.

View Course »

Add a Comment

*0 / 3000 Character Maximum

1 Comment

Filter by:
MSmailbox

I saw this coming and I sat on my hands... Oh, well. :-(

September 28 2010 at 1:16 PM Report abuse rate up rate down Reply