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Walgreen Company : Walgreens Debuts New Flagship Store in the Iconic Empire State Building

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03/25/2013 | 09:50pm CEST

22 March 2013
Walgreens Debuts New Flagship Store in the Iconic Empire State Building

Drugstore chain's second Well Experience flagship store in New York City

DEERFIELD, Ill., March 22, 2013 - Walgreens (NYSE: WAG) (Nasdaq: WAG) tomorrow will welcome customers to its latest New York City-based flagship store located in the world renowned Empire State Building. The store, which opens to the public at 10 a.m., features an extensive collection of innovative offerings, products and services unexpected from a drugstore.

"We are extremely pleased to provide another revolutionary store that demonstrates how Walgreens is transforming daily living, pharmacy and healthcare experiences nationwide," said Mark Wagner, Walgreens president of operations and community management. "Walgreens innovative products and services support our commitment to help our customers get, stay and live well."

A ribbon cutting ceremony will commence the grand opening. Walgreens leadership will be available for comment after the ceremony.

The store's expanded features include:

  • An enhanced, state-of-the-art pharmacy designed to encourage greater interaction between pharmacists and patients. A health guide will help pharmacy customers navigate a wide range of health and wellness products, as well as healthcare services including immunizations and health tests to better manage patient care. The pharmacy also features an "Ask Your Pharmacist" desk, private consultation rooms and Express Rx kiosks for easy, self-serve checkout.
  • A LOOK Boutique beauty department featuring dozens of prestige and niche cosmetic, skincare and hair care brands not typically found in drugstores. Specially-trained beauty advisors are on hand to offer guidance finding the best solutions for individual needs. Expert shaping and grooming services will be available at the Eyebrow Bar.
  • Hundreds of fresh food items including produce and high-quality, on-the-go meal options such as wraps, sandwiches and salads made fresh daily.
  • A selection of customary beer and select local brews.
  • A Coca-Cola Freestyle machine dispensing 130 varieties of Coca Cola fountain drinks.
  • Customers can also enjoy several flavors of self-serve frozen yogurt accompanied by an enticing toppings bar.
  • An Upmarket Café offering fresh brewed coffee, pastries, doughnuts and bagels.

The store will be open 24 hours every day with pharmacy hours from 7 a.m. to 9 p.m. Monday through Friday, 9 a.m. until 6 p.m. Saturdays and 10 a.m. until 6 p.m. Sundays.

About Walgreens

As the nation's largest drugstore chain with fiscal 2012 sales of $72 billion, Walgreens (www.walgreens.com) vision is to become America's first choice for health and daily living. Each day, Walgreens provides more than 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. The company operates 8,071 drugstores in all 50 states, the District of Columbia and Puerto Rico. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.

About the Empire State Building

Soaring 1,454 feet above Midtown Manhattan (from base to antenna), the Empire State Building is the "World's Most Famous Office Building." With new investments in infrastructure, public areas and amenities, the Empire State Building has attracted first-rate tenants in a diverse array of industries from around the world. The skyscraper's robust broadcasting technology supports all major television and FM radio stations in the New York metropolitan market. The Empire State Building was named America's favorite building in a poll conducted by the American Institute of Architects. The Empire State Building Observatory is one of the world's most beloved attractions and is the region's #1 tourist destination. For more information on the Empire State Building, please visit www.esbnyc.com, http://www.facebook.com/empirestatebuilding, or @EmpireStateBldg.

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Financials ($)
Sales 2017 121 948 M
EBIT 2017 7 954 M
Net income 2017 4 976 M
Debt 2017 8 917 M
Yield 2017 1,83%
P/E ratio 2017 17,63
P/E ratio 2018 15,46
EV / Sales 2017 0,80x
EV / Sales 2018 0,75x
Capitalization 88 363 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 93,1 $
Spread / Average Target 14%
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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
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