CHICAGO, Feb 3 (Reuters) - Walgreen Co posted a surprising drop in January sales at its stores open at least a year hurt by lower-priced generic drugs and a calendar shift that left the 2010 month with one less weekday.
Same-store sales fell 1.1 percent in January, while analysts had been looking for a 2.2 percent increase, according to Thomson Reuters data.
Same-store sales at the company's pharmacy counters fell 1.2 percent, the No. 1 U.S. drugstore chain said. Analysts had been looking for a 3.2 percent increase, according to Thomson Reuters data.
Sales of general merchandise, sold at the front end of the company's stores, fell 1 percent on a same-store basis. Analysts expected a 0.1 percent slip.
The calendar shift cut 1.3 percent from total same-store sales and 1.9 percent from pharmacy same-store sales, the company said.
Walgreen shares traded at $36.30 premarket on Wednesday, down from Tuesday's new York Stock Exchange close of $36.78.
(Reporting by Brad Dorfman)
((bradley.dorfman@thomsonreuters.com; +1 312 408 8133; Reuters Messaging: bradley.dorfman.reuters.com@reuters.net; )) Keywords: WALGREEN/ (See http://blogs.reuters.com/shop- talk/ for Shop Talk -- Reuters' retail and consumer blog.) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Same-store sales fell 1.1 percent in January, while analysts had been looking for a 2.2 percent increase, according to Thomson Reuters data.
Same-store sales at the company's pharmacy counters fell 1.2 percent, the No. 1 U.S. drugstore chain said. Analysts had been looking for a 3.2 percent increase, according to Thomson Reuters data.
Sales of general merchandise, sold at the front end of the company's stores, fell 1 percent on a same-store basis. Analysts expected a 0.1 percent slip.
The calendar shift cut 1.3 percent from total same-store sales and 1.9 percent from pharmacy same-store sales, the company said.
Walgreen shares traded at $36.30 premarket on Wednesday, down from Tuesday's new York Stock Exchange close of $36.78.
(Reporting by Brad Dorfman)
((bradley.dorfman@thomsonreuters.com; +1 312 408 8133; Reuters Messaging: bradley.dorfman.reuters.com@reuters.net; )) Keywords: WALGREEN/ (See http://blogs.reuters.com/shop- talk/ for Shop Talk -- Reuters' retail and consumer blog.) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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