Walgreens; Financial Statement Analysts
Executive Summary
Walgreens offers an old-fashioned tonic for fiscal fitness: quality over quantity and homespun growth rather than growth through acquisitions. It works. While Walgreen has fewer stores than its closest rival CVS, it is #1 in the nation in sales. (Hoover's Inc, 2007)
Walgreens operates about 6,000 stores in 49 states and Puerto Rico, and has three mail order facilities. Prescription drugs account for 65% of sales; the rest comes from general merchandise, over-the-counter medications, cosmetics, and groceries. Walgreen usually builds rather than buys stores, so it can pick prime locations. For added convenience, more than two-thirds of its stores offer drive-through pharmacies, and almost all offer one-hour photo processing. (Hoover's Inc, 2007)
Within the last 3 years Walgreen is growing by leaps and bounds. Some of the here are a few highlights and contributing factors to Walgreens growing success.
In 2005 Walgreens opened its 5,000th store in Richmond, Va. In 2006 Walgreens announced a new CEO (Jeffrey A. Rein). Walgreen also acquired Happy Harry’s drugstore chain, which added 76 stores to the growing number of locations.
In 2006, Walgreens began offering in-store health clinics (Health Corner Clinics), with nurse practitioners treating walk-in patients for common ailments. Later that year, clinics opened in St. Louis, Kansas City, Chicago and Atlanta." In 2007 Walgreens acquired Take Care Health Systems and with the acquisition, it expects to have more than 400 clinics by the end of 2008. (Walgreen.com, 2007)
Walgreens solid strategies towards conscious consumers values has successful expand and lead to growing their service and product portfolio to meet the needs of their current and future customers. In order to continue to grow and meet the needs; Walgreen is focusing on Organic store growth, and taking in consider acquisitions; increasing market share through innovation and execution; Leveraging the companies economic size;
Walgreens offers an old-fashioned tonic for fiscal fitness: quality over quantity and homespun growth rather than growth through acquisitions. It works. While Walgreen has fewer stores than its closest rival CVS, it is #1 in the nation in sales. (Hoover's Inc, 2007)
Walgreens operates about 6,000 stores in 49 states and Puerto Rico, and has three mail order facilities. Prescription drugs account for 65% of sales; the rest comes from general merchandise, over-the-counter medications, cosmetics, and groceries. Walgreen usually builds rather than buys stores, so it can pick prime locations. For added convenience, more than two-thirds of its stores offer drive-through pharmacies, and almost all offer one-hour photo processing. (Hoover's Inc, 2007)
Within the last 3 years Walgreen is growing by leaps and bounds. Some of the here are a few highlights and contributing factors to Walgreens growing success.
In 2005 Walgreens opened its 5,000th store in Richmond, Va. In 2006 Walgreens announced a new CEO (Jeffrey A. Rein). Walgreen also acquired Happy Harry’s drugstore chain, which added 76 stores to the growing number of locations.
In 2006, Walgreens began offering in-store health clinics (Health Corner Clinics), with nurse practitioners treating walk-in patients for common ailments. Later that year, clinics opened in St. Louis, Kansas City, Chicago and Atlanta." In 2007 Walgreens acquired Take Care Health Systems and with the acquisition, it expects to have more than 400 clinics by the end of 2008. (Walgreen.com, 2007)
Walgreens solid strategies towards conscious consumers values has successful expand and lead to growing their service and product portfolio to meet the needs of their current and future customers. In order to continue to grow and meet the needs; Walgreen is focusing on Organic store growth, and taking in consider acquisitions; increasing market share through innovation and execution; Leveraging the companies economic size;