Tribune staff report |  Walgreens said net earnings for the quarter ended Feb. 28 were $669 million, a 4.6 percent increase from $640 million in the same quarter a year ago. Second quarter sales up 3.1 percent to record $17 billion.

“During the quarter we continued to make progress in executing our key
strategies for growth,” said Walgreens President and CEO Greg Wasson. “We generated significant cash flow, despite the impact of a sluggish economy and lower-than-anticipated sales of flu-related products.”

Earnings per diluted share were 68 cents, a 4.6 percent increase from
65 cents per diluted share a year ago.

Second quarter 2010 results
include the impact of 2 cents per diluted share in restructuring and
related costs associated with the company’s Rewiring for Growth
initiative. Cash flow from operations for the quarter reached $595
million.

First
half 2010 net earnings increased 10.5 percent to $1.16 billion or $1.17
per diluted share versus last year’s $1.05 billion or $1.06 per diluted
share. First half results include the impact of 5 cents per diluted
share in restructuring and related costs associated with Rewiring for
Growth.