Drug store chain operator Walgreen Company (WAG) on Tuesday posted a 5.6% gain in same-store sales.
Same-store sales are a key metric used to measure a retailer’s health, since they record only the sales from stores open at least one year.
Walgreen also noted that overall sales for the month totaled $6.1 billion, up 7.8% from last year. Front-end sales rose 6.8%, while pharmacy sales were up 7.6%
Meanwhile, total fourth quarter sales were $17.94 billion, up 6.4% from last year.
Walgreen shares fell 59 cents, or -1.7%, in premarket trading Tuesday.
The Bottom Line
Shares of Walgreen (WAG) have a 2.59% dividend yield, based on Friday’s closing stock price of $34.77. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $37-$38 price levels.
Walgreen Company (WAG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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