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More on Walgreen's (WAG) October sales numbers (previous): A front end sales decrease of 2.9%...

More on Walgreen's (WAG) October sales numbers (previous): A front end sales decrease of 2.9% misses the mark of analysts by a wide margin as more than just Hurricane Sandy swept through the company. The number of prescriptions filled and flu shots administered came in weak for the month. CFO Wade Miquelon notes the company stayed away from unprofitable promotions for the month to focus on margin improvement. WAG -0.7% premarket.
Comments (2)
  • doc47
    , contributor
    Comments (1051) | Send Message
     
    It's really funny to read the "rationale" for the weak sales. First, always blame the weather. Sandy was a one or two days and the sales "ahead " of Sandy should have been robust (i.e., needed meds, batteries, bottled water, etc.--all of which are in Walgreen's!!!). The real bad weather-related sales will be for the November comps. Second, why did Walgreen's decide to stay away from "unprofitable promotions" during this particular month. Did they use such 'promotions' during other comp. periods??? This is a bad joke. People are much more likely doing less shopping at Walgreen's because of the debacle with Express Scrips that chased them away a year ago. Why not admit it and be done!
    5 Nov 2012, 09:22 AM Reply Like
  • HeartMan
    , contributor
    Comments (100) | Send Message
     
    It's the "unprofitable promotions" that gets my wife into the store.
    5 Nov 2012, 01:40 PM Reply Like
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