September 26, 2006 |
Walgreen Co. posted 25% quarterly earnings growth to cap its biggest-ever expansion year, but its stock tumbled on continuing investor concern about fallout for drugstore chains from Wal-Mart Stores Inc.'s plan to sell discounted generic drugs. The profit gain was fueled by an 18% increase in prescription drug sales from a year earlier and a 16% jump in total revenue. Although the resulting $412.
October 2, 2007 |
chicago -- Shares of drugstore chain Walgreen Co. tumbled Monday after the usually solid retailer's fiscal fourth-quarter revenue fell sharply short of expectations, causing its first earnings decrease in nearly a decade. Shares sank more than 15%, on pace to be the largest single-day decrease in roughly 20 years, before recovering slightly.
February 14, 2007 |
A jury cleared Walgreen Co. of racial discrimination alleged in a $2.5-million civil lawsuit brought by four black Texas men who say they were wronged at a Reno drugstore four years ago. In their lawsuit in Washoe County District Court, the men claimed that a photo lab clerk shouted a racial slur, slammed a door and denied them service after they complained about the quality of their photos. Walgreens maintained the incident was a case of poor customer service, not bias.
June 24, 2008 |
Drugstore chain Walgreen Co. said Monday that its fiscal third-quarter profit rose 2% as it focused on cost control and maintained a rapid expansion pace in a difficult retail environment. Despite the modest gain, the results were slightly short of Wall Street expectations and Walgreen shares fell back after initially climbing nearly 3%. Overall, however, analysts said the Deerfield, Ill.-based company's cost discipline and continued advances in a weak economy showed it had turned a corner after recent sluggishness.
September 30, 2008 |
Shares of Walgreen Co. fell to their lowest price in almost five years Monday after the drugstore operator reported disappointing revenue in its fiscal fourth quarter, pointing to promotions that failed to pay off. Walgreen said cost cuts and greater sales lifted its profit 12% for the quarter. But its revenue fell short of expectations, and the company said it engaged in too many discounts and promotions as it tried to ramp up sales in the face of difficult economic conditions. Customers did not pick up as many impulse items as Walgreen expected.
CALIFORNIA | LOCAL
January 30, 1998 |
Plans by Walgreen Co. to build a 24-hour drive-thru pharmacy in Canoga Park got a warm reception from members of Councilwoman Laura Chick's Neighborhood Planning Advisory Council. Although some members had concerns about lighting and the safety of drugstore employees during night hours, the panel overwhelmingly supported the project at a meeting Wednesday night, said Ken Bernstein, Chick's planning deputy.
CALIFORNIA | LOCAL
January 25, 2003 |
The Los Angeles City Council on Friday approved a controversial plan to build a 14,000-square-foot Walgreens drugstore in Eagle Rock over the objections of critics, who argued that the store is the last thing the area needs. The council's 10-0 action without comment contrasted sharply with a City Hall public hearing earlier this week, when more than a dozen speakers urged a council committee to reject the store, saying that it violated the Colorado Boulevard specific plan.
April 14, 2005 |
U.S. Bancorp, the sixth-biggest U.S. bank, will install 333 automated teller machines at Walgreen Co. stores in California and Nevada to expand in the West. Minneapolis-based U.S. Bancorp said its U.S. Bank subsidiary would install 312 ATMs in California and 21 in Nevada. U.S. Bancorp will about double its ATMs in California to 684, and will boost its ATMs in Nevada to 119. The bank has 306 branches in California and 40 in Nevada.
March 8, 2007 |
The federal government Wednesday sued Walgreen Co., alleging widespread racial bias against thousands of black employees of the nation's largest drugstore chain. The Equal Employment Opportunity Commission alleges in a class-action lawsuit that Deerfield, Ill.-based Walgreen makes decisions about employee assignment and promotion based on race. Most of the complaints that led to the lawsuit, filed in U.S. District Court in East St. Louis, Ill., came from employees and former employees in St.
CALIFORNIA | LOCAL
January 5, 2003 |
Officials at Walgreens say they know best how to operate a nationwide chain of stores. After all, they point out, customers are attracted to their kind of place -- a big-box store that is usually surrounded by ample parking spaces. Of its more than 3,900 all-purpose drugstores, only two outlets -- both in California -- have gone out of business in the last 10 years because of a lack of business, they say.