Pharmacy retailer Walgreens (NYSE: WAG) reported same-store sales for February were down -4.6% compared with February 2011. The number of prescriptions filled at comparable stores also fell, by -9.5%.
The company also said that the decline in prescriptions filled due to the cancellation of Walgreens’ contract with Express Scripts Inc. (NASDAQ: ESRX) totaled -10.7%. In February 2011, Express Scripts comprised 12.6% of Walgreens’ prescriptions.
Total sales for February rose 1.5%, from $5.77 billion to $5.86 billion, primarily due to the effect of the extra leap-year day. The impact of generic sales was also negative, as comparable prescription sales lost -2.2% due to the effects of new generics coming on the market.
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