MEMO: WALGREEN REPORTS RECORD SALES IN SECOND QUARTER

Walgreen Co. last Monday announced a 24.3 percent jump in its second quarter earnings, setting a record for the quarter and first half of fiscal 2001.

Net earnings for the quarter ended Feb. 28 increased to $296.9 million, or 29 cents a share, up from $238.9 million and 23 cents a share a year ago.

President David W. Bernauer said an aging population of baby boomers should mean continued prosperity for his company.

"Never before has the economic opportunity for drugstores been greater. And Walgreens is well-positioned to ride this age wave," Bernauer said.

Net earnings for the six months ended Feb. 28 were $455.3 million, or 45 cents a share, up 24.2 percent from the first half of fiscal 2000. Excluding the second quarter pre-tax gain, they increased 20.5 percent to $442 million or 43 cents a share.

Walgreens, headquartered at Deerfield, Ill., operates 3,343 drugstores in 43 states and Puerto Rico, an increase of 376 stores from a year ago.