Walgreen Co., the largest U.S. drugstore chain, said its second-quarter earnings rose 14% on increased pharmacy sales. Profit was below analysts' estimates, sending the shares to their biggest decline in seven months.
Net income climbed to $490.9 million, or 48 cents a share, from $431.6 million, or 42 cents, a year earlier, Deerfield, Ill.-based Walgreen said. Sales rose 12% to $11 billion.
Shares of Walgreen fell $1.12, or 2.4%, to $45.11 on the New York Stock Exchange.