Walgreen Profit Rises 86% as Loyalty Card Boost Sales
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Walgreen Co., the largest U.S. drugstore retailer, said fiscal fourth-quarter profit rose 86 percent after its customer-loyalty card boosted sales.
Net income increased to $657 million, or 69 cents per share, in the quarter ended Aug. 31 from $353 million, or 39 cents per share, a year earlier, the Deerfield, Illinois-based company said today in a statement. Excluding certain items, profit was 73 cents a share, matching the average of 20 analysts’ estimates compiled by Bloomberg.