Reuters Blogs

Shop Talk

Retailers, consumers and prices

April 2nd, 2008

Check Out Line: Bunny boost at Walgreen’s

Posted by: Brad Dorfman
Tags: Shop Talk, , ,

bunny.jpgCheck out the Easter boost in drugstore land.
 
Drugstore chains have been hurt by the weak U.S. economy of late, especially in the nonprescription part of the store.
 
But Easter seems to have helped at least one of the largest drugstore chains: Walgreen’s.
 
Walgreen Co said strong sales of Easter merchandise helped it post better-than-expected general merchandise sales in March. And they aren’t just talking about the fact that Easter came early this year, moving up purchases that would normally have occurred in April.
 
“The company recorded strong Easter seasonal sales, and front-end sales exceeded expectations for the month despite the slowing economy,” it said in a news release.
 
Of course, those front-end sales were needed to offset tepid prescription drug sales. The switch of allergy medicine Zyrtec to over-the-counter status, and a slower flu season for prescriptions hurt sales in that area as did an influx of lower-priced generic drugs in the past 12-months.
 
Still, for at least a month, it was chocolate bunnies to the rescue.
 
Also in the basket:
 
Best Buy profit better than expected
 
Lululemon’s sales double, to close Japan stores
 
Knit prices soar up to 20 percent for fall (WWD, subscription required)

(Reuters photo)

Post Your Comment

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word