Jerilyn Collins, Sabrina Lawson, Tracey Pierre, Charles Plassman Principles of AccountingACC/280
July 6, 2010
Members of team “B” chose to write their “Executive Summary” paper on Walgreen Drugstore. Within the content of the paper, team “B” members will demonstrate the financial structure of Walgreens for the past two years; revenues from the previous three years. Furthermore, team “B” will present the history and historic facts surrounding Walgreen. In addition, we will identify the stock exchange company Walgreen is affiliate with and identify the ticker symbol of the company. History and Historic Facts of Walgreen
In 1901, Charles R. Walgreen, Sr. had a vision to open his first drugstore in Chicago, Illinois whice drugstores were plentiful and thriving successfully. At age 16 Charles Walgreen landed his first job working at “Horton’s Drugstore making $4 a week. Dissatisfied with the lack of customer service the store provided he quit his job after one and half year. He decided to become a pharmacist and a business owner after he accidentally cut off the top joint of his middle finger. He was dedicated and committed to making his business successful. Mr. Walgreen became a registered pharmacist in 1897. Committed to his craft, Charles Walgreen began making certain drug items which was the start of the ever growing Walgreens’ brand products.
Later that year, Mr. Walgreen purchased his first store from Mr. Issac Blood in the amount of $6,000. The store was located in “Barrett’s Hotel,” immediately after purchasing the property Charles Walgreen began to make necessary changes to the store. First, he installed brighter lights to make the store more visible and warm to customer. Second, he widen the aisles of the store to allow more room for displays, a path to walk, and his store was the first drugstore to sell pots. Unaware of how far his vision would take the company, Mr. Walgreens personally...