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4-Traders Homepage  >  Equities  >  Nyse  >  Walgreens Boots Alliance Inc    

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Walgreen Company : Walgreen April Same-Store Sales Fall Bigger-Than-Expected 6.4%

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05/03/2012 | 02:39pm CEST

Walgreen Co.'s (WAG) April same-store sales fell a bigger-than-expected 6.4%--marking the fourth straight month of declines--as the drug-store chain's loss of Express Scripts Holding Co.'s (ESRX) members continued to hamper results.

Analysts polled by Thomson Reuters expected April same-store sales to fall 5.1%.

A conflict between Walgreen and Express Scripts over new contract terms erupted publicly last June, and Walgreen said it wouldn't be part of the pharmacy-benefits manager's network when their deal expired in 2011. The benefit manager's clients now have to go elsewhere to fill prescriptions.

Total sales fell 3.7% to $5.78 billion last month.

April same-pharmacy sales decreased 8.9% and missed the analysts' projected 8.6% decline.

Total pharmacy sales fell 6.3%. Prescriptions filled at same-stores declined 7.8% in April, reflecting the loss of Express Scripts members, a lower incidence of flu and more generic drug introductions. Prescriptions processed by Express Scripts comprised 12.6% of Walgreen's prescriptions a year earlier.

In the front of the store, same-store sales slipped fell 2.2% last month, compared with the analysts' flat front-end same-store sales forecast.

Total front-end sales slipped 0.5%. Customer traffic at same-stores fell 3% and average basket size increased 0.8%.

Walgreen reported in March its fiscal second-quarter earnings fell 7.7% as its exit from Express Scripts's network and a mild cold and flu season offset a 0.8% pop in total sales.

Shares closed Wednesday at $34.15 and were inactive premarket. The stock has gained 3.3% since the beginning of the year.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

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Financials ($)
Sales 2017 117 992 M
EBIT 2017 7 336 M
Net income 2017 4 650 M
Debt 2017 8 789 M
Yield 2017 1,89%
P/E ratio 2017 18,76
P/E ratio 2018 17,02
EV / Sales 2017 0,80x
EV / Sales 2018 0,74x
Capitalization 85 137 M
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 92,2 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Stefano Pessina Executive Vice Chairman & Chief Executive Officer
James A. Skinner Executive Chairman
Ornella Barra Co-Chief Operating Officer
Alexander W. Gourlay Co-Chief Operating Officer
George Rollo Fairweather Global Chief Financial Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
WALGREENS BOOTS ALLIANCE INC85 137
WALGREENS BOOTS ALLIANCE-3.87%85 137
CVS HEALTH-1.93%78 845
EXPRESS SCRIPTS HOLDING CO-9.80%37 249
MCKESSON CORPORATION17.37%34 859
CARDINAL HEALTH INC6.99%24 323