Tomahawk, WI 06/11/2014 (Basicsmedia) –

Surge in May Sales

As on May 31stWalgreen Company (NYSE:WAG) operated a total numbers of 8,683 across 50 states of the US. Walgreen’s opened eight stores during May 2014, acquired one store, relocated an another store and closed 23 stores. All these permutations and combinations are part of the company’s efforts to optimize its asset base. Changes made can be seen directly affecting the sales as shown by 6% rise of the same.

Aiming to Dodge the Tax

Walgreen is contemplating on whether it should change its corporate office to Switzerland where it has 45% sake in Alliance Boots, Europe’s largest pharmaceutical wholesaler and retailer. Such move called inversion will cost the U.S treasury about $4 billion in tax revenue over next few years. This inversion may inspire other major companies like Apple Inc. (NASDAQ:AAPL) and General Electric Company (NYSE:GE) to follow suit. It would be a blatant exploitation of the loophole in U.S. tax code. Such inversions not only deprive the government of its resources and revenues but also give undue advantage to offshore based companies over its competitors onshore.

Audit for 5 years

The Walgreen Company (NYSE:WAG) entered into an agreement with the state of Missouri according to which it would be paying 25% of its stores sale to an independent auditor. This situation arised due to price discrepancies in the drugs that the Walgreen sold. The price difference ranged from as less as few cents to $15. The auditor would keep performing random checks on the prices for three years as per the agreement.

The Talking Device

The US nationwide largest drugstore has introduced a device called Talking Device reminder for its visually impaired customers. The device would complement other prescription information Walgreen provides to it customers. The device can be used to record the information on the customer’s prescription got from certified medico and also can be programmed to remind the visually impaired patient the timings to take medicines. The device comes at no cost when medicines are brought from the Walgreen.

Commitment towards the Deprived

Walgreen and its partner Vitamin Angels has inked deal setting plans to provide about 100 million children and mothers with essential vitamins and minerals needed for healthy living. They would set aside 1% of their sales money to this purpose. To eradicate nutrient deficiency in 46 countries including the US and Canada, Walgreen is partnering in big way. It’s a win-win situation for both Walgreen Company (NYSE:WAG) and the Vitamins Angels.

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