What’s Wrong With Walgreen?
Weakening customer traffic continues to be a problem for Walgreen Co. (NYSE:WAG). The drugstore chain reported an 11 percent drop in same-store sales Wednesday, exceeding the 7.3 percent decline that analysts expected, according to Thompson Reuters.
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Walgreen took hits across the board with pharmacy sales falling 12 percent last month and same-store front-end sales decreasing 1.5 percent.
Shares were also down 1.7 percent to $36.30 during pre-market trading.