The stock was at $35 then. It is $56 now. Could be a little overpriced. Will continue to need QE printing to keep market rising.
It's a little difficult to see WAG closing green today. Two reasons it's down. First, the stock commonly dips a little as we approach earnings report and then runs back up. Second, and more to the point, there is a little disappointment in the November same store sales. It was actually a pretty good report but fell short of expectations. Comparable sales were down somewhat because we had an extra weekend day this year compared to last November. Weekend days provide lower sales numbers because not many doctors are in their office writing prescriptions. Analysts could have been thrown a little because RAD reported comps almost as good as those of WAG, and the trend has been for WAG to top RAD decisively. The difference is WAG reported 30 days including 5 Saturdays, while RAD reported 35 days including 5 Saturdays. RAD reported a period with the normal balance of weekdays to weekends, while WAG reported the 30 day month exactly as it falls. No big deal, as Walgreen will soon report a very strong quarter and year. Wassom will no doubt remind analysts that the Boots purchase is going very well, and also the new deal with Amerisource is progressing on schedule. WAG is on course to trade near $100/share in 2016 as long as the economy and Obamacare progress somewhere near projections. Oops! Mentioning Obamacare doesn't inspire a lot of confidence, but that's part of WAG's future.
fuddy, why do you think the numbers should be better? They exceed analysts expectations. That's not enough? Where have you seen cash flow numbers for the quarter? They have not been released to my knowledge.
Walgreen Co (NYSE: WAG) reported a 6% rise in its first-quarter sales.
Walgreen's quarterly sales surged to $18.35 billion , versus $17.32 billion , in the year-ago quarter. Its same-store sales climbed 5.5% in the quarter.
Walgreen's November sales gained 4.1% to $6.07 billion from $5.83 billion , while same-store sales climbed 3.2% in November.
In the pharmacy section, Walgreen's same-store sales surged 4%, versus analysts' expectations for a 3.9% growth.
Keep the good news coming, WAG.