UPDATE: Walgreen Posts Decline In FQ1 Profit

Walgreen Co

reported a drop in its fiscal first-quarter profit. Walgreen's quarterly profit declined to $413 million, or $0.43 per share, versus $554 million, or $0.63 per share, in the year-earlier period. Its adjusted profit came in at $0.58 per share. Its net sales dropped 4.6% to $17.32 billion, versus $18.16 billion. However, analysts were expecting earnings of $0.70 per share on sales of $17.43 billion. Walgreen shares dropped 2.37% to $36.66 in pre-market trading.