Penny miss aside, plenty to like from Walgreen

Walgreen (WAG) reports comparable-store sales rose 4.3% during FQ2.

Customer traffic slipped 1.4% due in part to tough weather trends, while the average basket size rose 3.4% as customers made the most out of their reduced trips to Walgreens outlets.

Total prescription sales were up 7% for the period as the Walgreens chain increased its retail prescription market share by 20 bps to 19.0%.

The company says combined synergies for Walgreen and Alliance Boots was $236M for the first half of its fiscal year.

An enrollment of 80M active members in Walgreen's Balance Rewards loyalty program at the end of the quarter looks downright formidable.

WAG +0.2% premarket

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