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Walgreen quarterly profit rises

23/06/2008 - 13:14

CHICAGO (Reuters) - Walgreen Co on Monday posted a 2 percent increase in quarterly profit, helped by efforts to control costs as the pace of prescription drug sales has slowed.

The company, one of the largest U.S. drugstore chain operators, said earnings rose to $572 million, or 58 cents a share, in the third quarter ended May 31 from $561 million, or 56 cents a share, a year earlier.

Analysts on average had forecast 59 cents a share, according to Reuters Estimates.

Walgreen has seen the pace of prescription drug sales slow as the allergy medicine Zyrtec became available without a prescription.

(Reporting by Brad Dorfman; Editing by Lisa Von Ahn)


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