Shop Talk

Retailers, consumers and prices

Check Out Line: Walgreen has prescription for profits

September 29, 2009

walgreen12Check out the better-than-expected profit at Walgreen.

The largest U.S. drugstore chain saw shares rise 10 percent as its fourth-quarter profit benefited from a make-over that includes sprucing up stores and cutting jobs.

Walgreen also announced a new plan to promote 90-day prescriptions available at its stores as an alternative to the mail-order programs favored by many insurance programs.

While sales rose 7.6 percent to $15.7 billion, the company, with 7,042 U.S. stores, has continued to see weak demand for general merchandise.

Also in the basket:

U.S. home prices up in July for third straight month

Starbucks debuts Via instant coffee in U.S., Canada

UK consumers tighten belts in face of GDP slump

Nestle mulls shift to ‘well-being’ company-chairman

(Reuters photo)

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