Walgreen Co. (WAG: Quote) reported a decline in its second-quarter net earnings to $683 million or $0.78 per share from $739 million or $0.80 per share a year ago. On average, 23 analysts polled by Thomson Reuters expected earnings per share of $0.77 for the quarter. Analysts' estimates typically exclude one-time items.
The company said this year's results benefited from one extra day versus last year because of leap year. Compared with last year, the mild cough/cold and flu season impacted net earnings per share by 3 cents, while the effect of no longer being part of the Express Scripts, Inc. pharmacy provider network as of January 1, 2012, impacted results by 7 cents per share.
Quarterly sales went up 0.8 percent to $18.65 billion from prior-year quarter's $18.50 billion, whereas 20 analysts estimated revenues of $18.52 billion for the quarter. Front-end comparable store sales rose 2.1 percent in the second quarter.
by RTT Staff Writer
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