Walgreens reports yet another record year of earnings

DEERFIELD, Ill. For the 34th year in a row, Walgreen Company has reported record-breaking sales and earnings, the company today reported. The company released fourth quarter figured, and credited its aggressive management style of handling expenses for its continued profits.

For the quarter ended Aug. 31, Walgreen Company reported that profits climbed 11.7 percent to $443 million ($0.45 cents per share, diluted), with consideration of a $79 million “vacation accrual adjustment.” In the same quarter last year, the company reported an increase to $397 million ($0.40 cents per share, diluted). 

Furthermore, fiscal net profits for the year rose by 5.7 percent to $2.16 billion. Last year at the same time, profits rolled in at $2.04 billion, the company reported. Per share net earnings for fiscal 2008 jumped 6.9 percent to $2.17 per share, diluted. That compares to last year’s earnings per share, reported at $2.03 per share, diluted. 

Walgreen Company also said that overall sales had risen by increased 8.8 percent to reach a new record for the fourth quarter, $14.6 billion. Yearly total sales were up 8 percent hitting $59 billion, the company said.