Walgreen’s Profit Rises 10 Percent

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Walgreen Co. (WAG), the largest U.S. drugstore chain, reported a 10 percent gain in second-quarter profit, helped by demand for flu-related prescriptions.
Net income rose to $739 million, or 80 cents a share, in the period ended Feb. 28, the Deerfield, Illinois-based company said today in a statement. Analysts anticipated 80 cents, according to the average of estimates in a Bloomberg survey.
Walgreen, led by Chief Executive Officer Greg Wasson, benefited as more people fell ill from colds and the flu later in the season than a year ago. The company filled one in five retail prescriptions in the U.S. for the first time in history last quarter, Wasson said in the statement.
The shares rose $1.06 to $41.97 yesterday in New York Stock Exchange composite trading. They had gained 7.7 percent this year before today.

http://www.bloomberg.com/