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Walgreen S&E

This article was originally published in The Rose Sheet

Executive Summary

Price reductions on thousands of cosmetics, as well as on skin care and vitamins, have been well received by consumers, retailer announces during 11first quarter sales and earnings release issued Jan. 3. Walgreens cut cosmetic prices between 5%-20% last spring. First quarter (ended Nov. 30) sales increase 16.8% to $6.6 bil., and comparable store sales were up 10.7% in the quarter. Net earnings grew 17.4% to $185.9 mil. during the period including a $5.5 mil. gain for partial payment of antitrust litigation settlement. Company plans to move forward with expansion, including 14,000 new jobs, 475 new stores and two new distribution facilities in 2002...
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