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Founded in 1901, Walgreens provides convenient access to consumer goods and services, and pharmacy, health and wellness services, in America. The company has recorded 34 consecutive years of record sales and earnings, a track record matched by only one other Fortune 500 company. Their busiest day is Christmas Eve, with Valentine's Day coming in second. Walgreens is currently undergoing a company-wide initiative to align their costs, culture and capabilities to the current economic climate. our costs, culture and capabilities to our strategy and to the realities of the current economic environment and target $1 billion in annual cost reductions by 2011.
Even with the planned slowdown of organic growth (currently at 9 percent, this will likely drop to about 3 percent by 2011), Walgreens remains among the fastest growing retailers in the country. By growing slowly, they will strengthen their core retail base and focus on return to shareholders. With 7,000 stores planned by the year 2010, Walgreens is on the verge of the most spectacular growth in its history.
|Jennifer Mathes, Ph.D.|