Retailers, consumers and prices
Check Out Line: No prescription for sluggish sales
Check out the sluggish sales at Walgreen.
People filled more prescriptions at the drugstore chain, but didn’t buy much else. August same-store sales rose only 1.9 percent, less than analysts had anticipated.
While many retailers have been experiencing sales declines, drugstores have generally done much better because an aging population has been buying more prescriptions drugs.
But Walgreen’s sales of general merchandise fell 1.3 percent.
That could be a bad sign for other retailers that report sales this week. Walgreen is the third-largest retailer that reports monthly sales, behind only Costco and Target.
Overall, analysts are expecting a 3.8 percent drop in same-store sales when retailers report this week.
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