Walgreen Co., the biggest drugstore
chain, said fiscal first-quarter profit rose 5.2%, driven by sales
of generic drugs.
Net income climbed to $345.6 million,
or 34 cents a share, in the quarter ended Nov. 30 from $328.6 million,
or 32 cents, a year earlier. Sales increased 10% to $10.9 billion,
the Deerfield, Ill.-based company said. Sales at stores open at
least a year rose 7.2%.
Prescription sales, which account
for 65% of revenue, rose 7.7% at comparable stores. More profitable
generic drugs helped widen margins. The company expects to benefit
in 2006 from "record" introductions of generics, said
Rick Hans, Walgreen's director of finance.
