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Walgreen Net Soars, Steelcase Net Plunges

Author: Mukesh Buch
Last Update: 12:19 PM ET December 23 2014

12:30 AM New York Steelcase third-quarter net declined 49% to $12 million but revenues rose 2%. Walgreen first-quarter net soared 16.4% to $809 million on 7% increase in revenues.

Tollbooth Strategy Index gained 0.6% or 66.07 to 10,152.52.

Earnings Review

Steelcase Inc (SCS) slipped 1.2% or 21 cents to $17.70 after the business support provider said revenues in the third-quarter ending on November 28 increased 1.9% to $800 million form a year ago period.

Net income in the quarter declined 48.7% to $11.8 million or 9 cents a diluted share compared to $23 million or 18 cents from a same quarter last year.

Walgreen Company (WAG) gained 1.4% or 92 cents to $75.15 after the retail drugstore chain reported sales in the first-quarter ending in November jumped 6.7% to $19.6 billion form a year ago period.

Total comparable store sales in the quarter climbed 5.7% and front-end comparable store sales increased 1.5%. While customer traffic in comparable stores dropped 2.7% but basket size advanced 4.2%.

Net earnings in the quarter soared 16.4% to $809 million or 85 cents a diluted share compared to $695 million or 72 cents from a same quarter last year.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc