New York City Walgreen Co. reported a higher quarterly net profit on Monday, helped by prescription sales and cost controls.
Net profit rose nearly 12% to $443 million in the quarter that ended Aug. 31, compared to $396.5 million a year ago.
The reported quarter's profit included a $79 million benefit tied to a vacation accrual adjustment, Walgreen said.
In the year-ago quarter, Walgreen unexpectedly posted its first quarterly profit decline in almost 10 years due to lower reimbursements for some generic drugs, higher salary and other expenses.
Sales rose 8.8% to $14.6 billion, while same-store rose 2.6%. The company said prescription sales rose 7.9% and made up 66% of sales in the quarter.
Walgreen said it filled 0.6% more prescriptions in stores open at least a year than it did in the year-earlier quarter. It said overall U.S. reta