Walgreen Company., (WAG): Founded in 1901 and based in Deerfield, Illinois, Walgreen Company sells prescription and non-prescription drugs, and general merchandise through its chain of drugstores in the United States. As of May 31, 2009, the company operated 7,361 store locations in 49 states, the District of Columbia, Puerto Rico and Guam. That includes 6,857 drugstores, as well as work-site health and wellness centers, home care facilities and specialty, institutional and mail service pharmacies. The company acquired 40 drugstores, including 29 Drug Fair Stores in central and western New Jersey and eight Rite Aid locations in San Francisco and eastern Idaho in the quarter ended May 2009.
On June 22, 2009, Walgreen announced its earnings for the third fiscal quarter ended May 2009. The company earned 53 cents per share for the quarter, decrease of 8.8 percent, compare to 58 cents per share in the same quarter a year ago.
Market is expecting a profit of 39 cents per share on the earnings of $15.68 Billion, for the second fiscal quarter ended August 2009, which is 6 cents less than its posted profit of 45 cents per share a year ago in the same quarter.
Walgreen is one of the best in its sector and still missed markets expectations in last three quarters. Swine-flu fears might help Walgreen this fall, but for now I am listing WAG in my SHORT sell watch list for short term trading. The Company announced that it will be releasing its second quarter earnings on September 29, 2009 at 7:30 AM Eastern standard time.
