The Canadian PressOctober 1, 2013 13:22
Walgreen Co.'s fiscal fourth-quarter earnings soared 86 per cent, as the nation's largest drugstore chain booked gains from its method of inventory accounting and its acquisition of a stake in European health and beauty retailer Alliance Boots.
The Deerfield, Ill., company said Tuesday that it earned $657 million, or 69 cents per share, in the quarter that ended Aug. 31. That compares with earnings of $353 million, or 39 cents per share, a year ago. Revenue climbed 5 per cent to $17.94 billion.