Walgreen profits decline 7%

NEW YORK — Drugstore operator Walgreen Co.'s profit fell 7 percent in the fiscal second quarter because of restructuring costs as cash-strapped shoppers cut discretionary purchases even as retail prescriptions grew.
The Deerfield, Ill., company says it earned $640 million, or 65 cents per share. That compares with $686 million, or 69 cents per share, a year ago. That includes restructuring expenses of $93 million, or 6 cents per share. Sales grew 7 percent, to $16.48 billion from $15.39 billion.


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