Walgreens

Type: Public (NYSE: WAG)
Founded: 1901
Headquarters: Deerfield, Illinois
Key people: Jeff Rein, Chairman and CEO, Greg Wasson, President and COO
Products: Retail-Pharmacy-Photo
Website: www.walgreens.com

General Information

Walgreen Co. (NYSE: WAG), d/b/a Walgreens (without an apostrophe), is a pharmacy chain, mail service pharmacy, pharmacy benefit manager, and specialty pharmacy which has operations throughout the continental United States and Puerto Rico. There are more than 5,800 Walgreens in operation with a current goal to have 7,000 stores by 2010. Of the 5,800+ Walgreens locations, about 2,000 of them are open 24-hours, including the pharmacy. Over 4 million customers are served by Walgreens daily chain-wide and over 500 million prescription scripts are filled annually. Walgreens was founded in Chicago, Illinois, in 1901 and has since expanded throughout the United States. Its headquarters is located in Deerfield, Illinois, a suburb of Chicago. Its main competitors are CVS/pharmacy, Wal-Mart, Rite Aid as well as Target Corporation and primarily Osco.

A typical Walgreens store is about 14,500 square feet with 11,000 square feet of sales area. They offer nearly 25,000 items for sale and typically staff between 25 and 30 people per store. On average, one store pulls in $7.9 million in annual sales. Most stores include a pharmacy, a photo lab, a cosmetics counter, and a general merchandise area. Select stores in metropolitan Chicago, Atlanta, Kansas City, Las Vegas, and St. Louis now include Walgreens Health Corner Clinics where certified staff diagnose, treat, and prescribe for common illnesses and can also issue vaccinations and physicals in select locations. These clinics are open 7 days a week; including evenings and weekends with no appointments necessary and with acceptance of most major insurance plans.