Shop Talk

Retailers, consumers and prices

Check Out Line: Lower discretionary spending at drugstores

July 2, 2009

walgreen1Check out June same-store sales at drugstore chains.

Walgreen Co and Rite Aid both reported sales at stores open at least a year, pointing to shoppers filling more prescriptions but buying less discretionary summer merchandise. Walgreen said same-store sales in June rose 3.4 percent, while smaller rival Rite Aid saw sales slip 0.6 percent.

Economists and analysts had previously pointed to signs the recession may be nearing an end, but the news is still mixed as the number of jobs cut in June was higher than expected and the unemployment rate rose to 9.5 percent.

Also in the basket:

Polo extends deal to dress US Olympic teams

If You Gave a Fashion Show and No One Came … (Wall Street Journal)

Luxury-Goods Makes Brandish Green Credentials (Wall Street Journal)

(Reuters photo)

Comments

All the experts seeing signs of the recession nearing an end, are they sure they aren’t hallucinating, what signs? I do my best to see them as well but I must be watching a different channel.

 

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •