Walgreens Swot
I. Walgreens Corporation's History and Mission Statement
Established over a century ago, Walgreens has since grown into a national corporation with over 8,489 stores (Walgreens Corporation, 2013). Today, they are the first largest drugstore chain in the nation before CVS, Rite Aid, and Wal-Mart. Walgreens serves more than 6.3 million customers daily and fills 784 million prescriptions every year (Walgreens Corporation, 2013). Priding itself on innovation and technology, Walgreens was the first drug store chain to use child resistant prescription containers and the first drugstore chain to use satellite technology to connect its pharmacy systems (Walgreens Corporation, 2013).
Walgreens first began in Chicago in 1901 when pharmacist Charles R. Walgreen purchased a drugstore where he had once worked. A second store opened in 1909, and seven years later nine stores were incorporated to form Walgreens Corporation. Walgreens Co. became a public corporation in 1927, and by 1953 it was the country's leading self-service retailer (Walgreens Corporation, 2013). Walgreens now operates in 50 states, the District of Columbia and Puerto Rico.
The company has long been committed to customer convenience. To promote their policy of convenience, Walgreens Pharmacies are located in high traffic areas. Walgreens offers items and services beyond those of a typical drugstore. These services include drive-thru pharmacies and one-hour photo services, and many stores are open 24 hours a day.
The company's continual growth has resulted in consistently increasing sales and earnings. Walgreen averages a 19% increase in their sales from year to year, and it looks like this statistic will remain constant for the years to come. The 2012 fourth quarter sales increase 9.4 percent to record $15.9 billion; fiscal 2012 sales reach record $73.4 billion. Gross profit margin for quarter improves 70 basis points versus 2012 fourth quarter. Cash flow from operations for the quarter total $925 million;
Established over a century ago, Walgreens has since grown into a national corporation with over 8,489 stores (Walgreens Corporation, 2013). Today, they are the first largest drugstore chain in the nation before CVS, Rite Aid, and Wal-Mart. Walgreens serves more than 6.3 million customers daily and fills 784 million prescriptions every year (Walgreens Corporation, 2013). Priding itself on innovation and technology, Walgreens was the first drug store chain to use child resistant prescription containers and the first drugstore chain to use satellite technology to connect its pharmacy systems (Walgreens Corporation, 2013).
Walgreens first began in Chicago in 1901 when pharmacist Charles R. Walgreen purchased a drugstore where he had once worked. A second store opened in 1909, and seven years later nine stores were incorporated to form Walgreens Corporation. Walgreens Co. became a public corporation in 1927, and by 1953 it was the country's leading self-service retailer (Walgreens Corporation, 2013). Walgreens now operates in 50 states, the District of Columbia and Puerto Rico.
The company has long been committed to customer convenience. To promote their policy of convenience, Walgreens Pharmacies are located in high traffic areas. Walgreens offers items and services beyond those of a typical drugstore. These services include drive-thru pharmacies and one-hour photo services, and many stores are open 24 hours a day.
The company's continual growth has resulted in consistently increasing sales and earnings. Walgreen averages a 19% increase in their sales from year to year, and it looks like this statistic will remain constant for the years to come. The 2012 fourth quarter sales increase 9.4 percent to record $15.9 billion; fiscal 2012 sales reach record $73.4 billion. Gross profit margin for quarter improves 70 basis points versus 2012 fourth quarter. Cash flow from operations for the quarter total $925 million;
References: Ausick, P. (2009). Walgreen Vs. CVS Caremark: When Partnerships Turn South. 24/7 Wall Street. Retrieved on January 19, 2013 from http://247wallst.com/2010/06/08/walgreen-vs-cvs-caremark-when-partnerships-turn-south-wag-cvs/ Demery, P. (2010). Future-Focused. Internet Retailer. Retrieved on January 19, 2013 from http://www.internetretailer.com/2010/11/01/future-focused Kraft. S. (2011). Walgreens Set To Make Move Into Health Insurance Market. Medical News Today. Retrieved on January 19, 2013 from http://www.medicalnewstoday.com/articles/232500.php Tran, D. (2011). Walgreens, CVS, and Rite Aid - What RE Investors Should Know. Enzine Articles. Retrieved on January 19, 2013 from http://ezinearticles.com/?Walgreens,-CVS,-and-Rite-Aid---What-RE-Investors-Should-Know-in-2011&id=471657 Walgreen 's Profit Slides 55%. (2011). The Wall Street Journal. Retrieved on January 19, 2013 from http://online.wsj.com/article/SB10000872396390443389604578024032757822350.html www.walgreens.com