Walgreen 2Q Profits Up
Deerfield, Ill., Walgreen Co. reported second-quarter profit of $490.9 million, or 48? per share, up from $431.6 million, or 42? per share, a year earlier. Sales increased 12.3% to $11 billion from $9.78 billion a year ago, while comp-store sales rose 7.7% for the quarter.
“Our results benefited from continued solid execution at our stores, especially during the important holiday selling season,” said chairman and CEO Dave Bernauer in a statement. “Although the cold and flu season peaked later this year than the previous year, the overall effect on the quarter was fairly comparable.”
May Names John Dunham Chairman and CEO
St. Louis, May Department Stores has tapped John Dunham as its permanent chairman and CEO, prior to the retailer’s $11 billion acquisition by rival Federated Department Stores Inc. Dunham already had been May’s president, and had assumed the duties of acting chairman and CEO upon the Jan. 14 resignation of Gene Kahn. The executive appointment was revealed in a filing this week with the Securities and Exchange Commission.
Hastings Delays Report
Amarillo, Texas, Hastings Entertainment Inc. on Friday delayed the release of its fourth-quarter and full-year earnings by three days so the company can make changes to the way it accounts for store leases. It will release its earnings on Thursday. Hastings operates 150 stores in the West and Midwest.