BusinessOctober 9, 2000
BUSINESS MEMO: WALGREEN EXPANSION
Walgreen Co. capped a year of rapid expansion with a 22 percent jump in profits in its fourth quarter, benefiting from booming prescriptions and the healthy condition of the U.S. drugstore business. Prescription drug sales, which account for more than half the company's revenues, rose 24 percent in the July-through-September period and 25 percent for the year...
Walgreen Co. capped a year of rapid expansion with a 22 percent jump in profits in its fourth quarter, benefiting from booming prescriptions and the healthy condition of the U.S. drugstore business.
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Prescription drug sales, which account for more than half the company's revenues, rose 24 percent in the July-through-September period and 25 percent for the year.
After opening a store on average every 19 hours over the past year, the company said its strong profits have encouraged it to open another 505 during the coming year.
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