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Walgreen

This article was originally published in The Rose Sheet

Executive Summary

Price reductions on thousands of cosmetics and promotional categories implemented to bring more customers into stores, company says in report of fiscal fourth quarter and year end (ended Aug. 31) results. Lower prices intended to allow drug chain to better compete with mass merchandisers, firm states. Walgreen reduced prices on cosmetics between 5%-20%. Net sales for fourth quarter jumped 16.8% to $6.28 bil., and net earnings were flat at $216.9 mil. Net sales for the year were up 16.1% to $24.62 bil., while earnings were up 14% to $885.6 mil., firm says
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