Walgreens Boots Alliance Inc (WBA)

[Democritus_of_Abdera]

Wade Miquelon’s Nov 13, 2008 presentation at Credit Suisse Healthcare Conference...

This was a breezy presentation in which Wade reaffirmed the three pronged WAG strategy that has been discussed in recent investor presentations, i.e. 1) leveraging the store network, 2) enhancing the customer interface, and 3) cost reduction.

He reiterated that the average number of items a customer buys per visit has remained constant at 3.0 for a decade, eventhough the number of items WAG stocks has increased 30%. This inconsistency is driving a reorganization in store layout and a reduction in the number of items offered.

Wade expects that the drug-store industry will consolidate over the next few years. WAG will be more aggressive in file buys and, perhaps, independent buyouts. He expects that mail order will be a significant opportunity for WAG.