Walgreens FY 3Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“We also continue to face a soft economy, especially in our lower income communities, where our stores, on a comp basis, are performing on average below our stores in middle or higher income neighborhoods.”

“physician visits are down 2.7% year over year in May, according to JPMorgan’s monthly tracker”

” we expect margins to be negatively impacted by a trough in the generic wave, expected to continue until the latter half of fiscal year 2014, when we expect to experience another peak in the wave, albeit smaller than the fiscal year ’13 peak.”

“every day we’re kind of moving forward and getting more and more express scripts customers back. I think that trend is going to continue.”

“with AmerisourceBergen, because we are a small investor, and we plan to just be a partner versus anything grander.”

“our pharmacy business outpaced our front end. Our front end has a higher gross margin on average. You get mix effects in that regard.”

“The business model is to try to maximize gross profit dollars.”