Walgreen 3Q profit misses expectations
DEERFIELD, Ill. — Walgreen’s fiscal third quarter earnings jumped 16 percent compared with last year, aided in part by a lower income tax rate, but the drugstore chain’s performance again fell short of Wall Street’s expectations.
The Deerfield, Illinois, company also left investors and analysts hanging after announcing quarterly results Tuesday. Walgreen executives said they are considering their option to complete a takeover of Swiss health and beauty retailer Alliance Boots — a move that could involve an overseas reincorporation — but they won’t be ready to discuss their next step until late July or early August.
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