Q: Why was consumer penny pinching from the soft economy a good thing for Walgreen’s December sales?
A: This was a trick question insofar as penny pinching had nothing to do with the robust year-over-year sales increase in December. Rather, the 4.9% growth in year-over-year pharmacy sales from comparable stores was largely due to December 2008 having two more weekdays than December 2007. Although “front-end” merchandise sales in drugstores are not significantly affected by the day of the week, pharmacy sales are.
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