Walgreens May Sales Increase 6.0 Percent
June 04 2014 - 7:00AM
Business Wire
Walgreens (NYSE: WAG) (Nasdaq: WAG) had May sales of $6.57
billion, an increase of 6.0 percent from $6.19 billion for the same
month in fiscal 2013.
Total front-end sales increased 3.0 percent in May compared with
the same month in fiscal 2013, while comparable store front-end
sales increased 2.6 percent. Customer traffic in comparable stores
decreased 0.5 percent while basket size increased 3.1 percent.
Prescriptions filled at comparable stores increased by 3.5
percent in May and increased 5.6 percent on a calendar day-shift
adjusted basis. May 2014 had one additional Saturday and one fewer
Wednesday compared with May 2013. These calendar shifts negatively
impacted prescriptions filled at comparable stores by 2.1
percentage points.
May pharmacy sales increased by 7.9 percent. Comparable store
pharmacy sales increased 5.5 percent and increased by a calendar
day-shift adjusted 7.6 percent. Calendar day shifts negatively
impacted pharmacy sales in comparable stores by 2.1 percentage
points. Calendar day-shift adjusted comparable store pharmacy sales
were negatively impacted by 1.3 percentage points due to generic
drug introductions in the last 12 months. Pharmacy sales accounted
for 64.2 percent of total sales for the month.
Sales in comparable stores increased by 4.4 percent in May.
Calendar day shifts negatively impacted total comparable sales by
1.3 percentage points. Generic drug introductions in the last 12
months negatively impacted total comparable sales by 0.8 percentage
point.
Total sales for the third quarter of fiscal 2014, which ended
May 31, were $19.49 billion, up 6.5 percent from $18.65 billion in
last year’s quarter. Comparable store sales for the third quarter
of fiscal 2014 increased 5.1 percent, while front-end comparable
store sales for the quarter increased 2.2 percent. Prescriptions
filled at comparable stores increased 4.0 percent in the third
quarter and comparable pharmacy sales increased 6.8 percent.
Calendar 2014 year-to-date sales for the first five months were
$31.90 billion, an increase of 5.5 percent from $30.24 billion in
2013.
Fiscal 2014 year-to-date sales for the first nine months were
$57.42 billion, an increase of 5.8 percent from $54.28 billion in
fiscal 2013.
Walgreens opened eight stores during May, including one
relocation, acquired one and closed 23. Nearly all of the May store
closings were part of the company’s previously announced efforts to
optimize its asset base by closing a total of 76 drugstores during
the second half of fiscal 2014.
On May 31, Walgreens operated 8,683 locations in all 50 states,
the District of Columbia, Puerto Rico, Guam and the U.S. Virgin
Islands. That includes 8,216 drugstores, 120 more than a year ago,
including 70 net stores acquired over the last 12 months. The
company also operates infusion and respiratory services facilities,
specialty pharmacies and mail service facilities. Its Take Care
Health Systems subsidiary manages more than 750 in-store convenient
care clinics and worksite health and wellness centers.
May Comparable Sales and Prescriptions Filled
Actual
CalendarShiftImpact
GenericsImpact
Cough,Cold,
FluImpact
Total Comp Sales 4.4 % -1.3 % - 0.8 % - 0.1 % Comp Front End
2.6 % - - - Comp Rx Sales 5.5 % -2.1 % - 1.3 % - 0.1 % Comp Rx
Scripts
3.5
%*
-2.1 % - - 0.1 %
* Includes +1.8 percentage points from patients filling more
90-day prescriptions
Please note: Sales numbers and the adjustments shown in the
table are preliminary, unaudited and subject to revision.
Comparable stores are defined as those drugstore locations open for
at least 12 consecutive months without closure for seven or more
consecutive days and without a major remodel or a natural disaster
in the past 12 months. Acquired operating locations and relocations
are not included as comparable stores for the first 12 months after
the acquisition or relocation.
Cautionary Note Regarding Forward-Looking Statements: Statements
in this release that are not historical are forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Words such as
"expect," “likely,” "outlook," “forecast,” "would," "could,"
"should," “can,” “will,” "project," "intend," "plan," "goal,”
“target,” “continue," "sustain," “synergy,” "on track," "believe,"
"seek," "estimate," "anticipate," "may," “possible,” "assume," and
variations of such words and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements are not guarantees of future performance and involve
risks, assumptions and uncertainties, including, but not limited
to, those described in Item 1A (Risk Factors) of our most recent
Annual Report on Form 10-K, which is incorporated herein by
reference, and in other documents that we file or furnish with the
Securities and Exchange Commission. Should one or more of these
risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. Accordingly, you are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date they are made. Except to the extent required by law,
Walgreens does not undertake, and expressly disclaims, any duty or
obligation to update publicly any forward-looking statement after
the date of this release, whether as a result of new information,
future events, changes in assumptions or otherwise.
WalgreensMedia contact:Emily Hartwig, 847-315-3316orInvestor
contacts:Rick Hans, CFA, 847-315-2385Ashish Kohli, CFA,
847-315-3810http://news.walgreens.com@WalgreensNewsfacebook.com/Walgreens
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