This was reported by Walgreens April Sales numbers release, Shopping Traffic was down 5.9% (YOY) year over year.
Walgreens also reported that its pharmacy with related OTC products written with a prescription, increased, but with a lower billing/ reimbursement payment.
In a YOY comparison Walgreens is showing a 26 million dollar increase from last April's comp Sales..
Recalling that it was estimated this Company took a 5 billion dollar loss last year from a Prescription Contract impasse. .this new contract withincreased patients counts....., has now been using Walgreens stores for the last 8 months.
Aprilst earning reported increase.. does not warrant the current selling Price when a investor adds in Rx counts from the Buyouts/Spend of K-Mart customers and Drug Mart Rx patients...all these additional customers are not showing up in Walgreens Reported customer traffic, however the Rx medication sales are.
In addition to more 90 day fills being billed for revenue..
Wall-street analysts are not commenting on this declining trend of instore shopping at Walgreens store but are quick to put out a $50+ price tag on this stock. that has 8000 store locations with Mega Stores popping up Weekly and less folks shopping in these stores..
rob, one month does not make a trend. lower front-end traffic in April compared to last year was due to Easter falling in March this year instead of April. Give it a few months and I think you will find traffic and sales increasing. The rewards card is having the desired affect. The $50 price tag on the stock is not put out by wall-street analysts. Equities, WAG included, are priced by the markets, not analysts. Apparently a lot of individual and institutional investors envision a bright future for WAG. I know I do.