Walgreen Sinks After Profit Trails Estimates
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Walgreen Co., the largest U.S. drugstore retailer, fell the most in a year and a half after fiscal third-quarter profit trailed analysts’ estimates because of declining sales at established stores.
The shares tumbled 7.2 percent to $44.57 at 9:55 a.m. in New York after dropping as much as 7.7 percent, the biggest intraday decline since Dec. 21, 2011. Walgreen gained 30 percent this year through yesterday, compared with a 10 percent increase for the Standard & Poor’s 500 Index.