Walgreen Surges After Robust Profit Report
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CHICAGO -- Shares of Walgreen Co . rose more than 8% early Thursday on the back of a better-than-expected fiscal first quarter profit report. Walgreen earned $580 million, or 62 cents a share, on the period, up from $489 million, or 49 cents, in the same quartet a year ago and well ahead of the 54-cent a share average estimate of analysts polled by FactSet Research. Sales in the quarter ended Nov. 30 were up 6% to $17.3 billion, with same-store sales -- those at outlets open at least a year -- rose 0.8%. The stock gained $3.10 to
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