Deerfield, Ill. Walgreen Co. said Tuesday that, while November sales increased nearly 4% to $4.96 billion from $4.78 billion in the year-ago period, same-store sales fell 0.9%. The retailer blamed the same-store declines on the introduction of more generic drugs over the past year.
The company said it saw more consumer traffic on Black Friday 2008 that it did on the same day a year ago. But fewer items were purchased per transaction, it said.
Walgreen also noted that November had one less holiday shopping week and two fewer weekdays compared to last year.
In related news, Walgreen said Monday it completed its acquisition of McKesson Corp.’s McKesson Specialty Pharmacy in Pittsburgh and IVPCARE, a Frisco, Texas-based reproductive-health pharmacy.