FINANCE

Walgreens January same-store sales up 6.3%

BY Michael Johnsen

Deerfield, Ill. — Walgreens Tuesday morning reported January sales of $6.2 billion, an increase of 6.3% as compared to the same month in fiscal 2012.

Prescriptions filled at comparable stores increased by 13.6% in January and increased 11.6% on a day-fall adjusted basis. This year’s January had one additional Wednesday and Thursday and one fewer Sunday and Monday compared with January 2012, positively impacting prescriptions filled in comparable stores by 2 percentage points.

Walgreens reported that the percentage of Express Scripts customers filling prescriptions in its pharmacies continued to increase in January.

January pharmacy sales increased by 8.7%, while comparable store pharmacy sales increased 6.2% and by a day-fall adjusted 4.2%. DFA comparable store pharmacy sales were negatively impacted by 6 points due to generic drug introductions in the last 12 months.

Pharmacy sales accounted for 65% of total sales for the month.

Flu shots administered at pharmacies and clinics season-to-date were nearly 6.9 million versus approximately 5.5 million last year.

Total front-end sales increased 1.3% compared with the same month in fiscal 2012, while comparable store front-end sales decreased 0.4%. Customer traffic in comparable stores decreased 2.8% while basket size increased 2.4%.

Sales in comparable stores increased by 3.7% in January. Calendar day shifts positively impacted total comparable sales by 1.3 percentage points, while generic drug introductions in the last 12 months negatively impacted total comparable sales by 3.9 percentage points.

Registrations for Walgreens Balance Rewards loyalty program, which launched in September, totaled nearly 55 million through January.

Walgreens opened nine stores during January, including two relocations, acquired two stores and closed two.

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REAL ESTATE

Cogent Group acquires the fee interest in 15 North Carolina KFC properties

BY Katherine Boccaccio

Dallas — Real estate investment firm The Cogent Group said Tuesday that it has acquired 15 KFC properties in North Carolina. The properties are leased to a franchisee.

The 15 units are located in prime retail corridors in the North Carolina Triad market consisting of Greensboro, Winston Salem, and High Point, with above average unit sales. The properties are subject to long-term triple net leases having an initial term of 20 years, plus renewal options.

“The purchase of these high quality assets, subject to long-term leases with a highly-regarded operator, is an ideal fit for our investment strategy and our long-term strategic partner, as we continue to add to our real estate portfolio of triple-net lease properties throughout the United States,” said Scott Kipp, a co-founder and principal of The Cogent Group.

Cogent recently also developed properties for 7-Eleven and Whataburger, acquired an Uncle Julio’s restaurant, and completed a sale-leaseback transaction with VPS Convenience Store Group.

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REAL ESTATE

Fairlawn Town Centre sold to new ownership

BY Katherine Boccaccio

Bryn Mawr, Pa. — WP Realty and Angelo, Gordon & Co. announced Tuesday the sale of Fairlawn Town Centre located in Fairlawn, Ohio.

Fairlawn is located just west of Akron; Fairlawn Town Centre is a 447,037-sq.-ft. community shopping center anchored by Giant Eagle, Target (separately owned), Home Goods, Pet Supplies Plus, Ashley Furniture and Marc’s. In-line retail tenants include U.S. Post Office, Chuck E. Cheese, Panera Bread, GNC, Subway and RadioShack.

WP Realty purchased Fairlawn in May 2010. The acquisition of the center included a vacant 39,840-sq.-ft. junior anchor box formerly occupied by Circuit City. Fairlawn Town Centre provided an opportunity to acquire a well-located, stable grocery-anchored shopping center with considerable immediate upside through the lease-up of the vacant anchor and inline space.

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