Walgreens

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Headquarters: 200 Wilmot Road Deerfield, IL 60015 Employees: 195,000 CEO: David Bernauer Stock Symbol: WAG Website: http://www.walgreens.com Company News Career Site Walgreens operates a national chain of drug stores with 5,751 locations in 48 states and Puerto Rico. The company serves 4.7 million customers daily and filled more than 529 million prescriptions in 2006. More than 1,600 Walgreens stores are open 24 hours and over 4,800 have drive-thru pharmacies. A typical Walgreens store is 14,500 square feet with 25,000 items for sale, 25-30 employees and annual sales of $8.5 million. The company also operates 77 Happy Harry's stores in Delaware and surrounding states which it acquired in 2006. For fiscal 2006, Walgreens reported record revenues of $47.4 billion, a 12.3% increase and net earnings of $1.75 billion. It is the leading drug store chain based on total sales. Walgreens has reported 32 consecutive years of record sales and earnings. The company plans to open 500 stores in fiscal 2007 and has set a goal of 7,000 stores nationwide by 2010. The top states for company sales are Florida, Illinois and Texas. In June, the company opened its 12th full-service distribution center in Anderson, SC which currently employs 275 people and could grow to 800 in a few years. Walgreens is expanding its services beyond traditional pharmacy through Walgreens Health Services, its managed care division, and Take Care Health Systems, a wholly-owned subsidiary that manages convenient care clinics inside drugstores. Walgreens Health Services assists pharmacy patients and prescription drug and medical plans through Walgreens Health Initiatives, Inc. (a pharmacy benefits manager), Walgreens Mail Service Inc., Walgreens Home Care Inc., and Walgreens Specialty Pharmacy. History Charles Walgreen founded the pharmacy in Chicago in 1901. He focused on providing customers great service, a broad selection of merchandise and an easy-to-navigate store layout. He also made sure they paid low prices. Walgreen invented the milkshake and introduced the soda fountain at stores which drew more customers in the early 1920s. Walgreen pioneered computers in pharmacies that could be connected nationwide via satellite with the introduction of its Intercom computer system in 1981. It also pioneered drive-thru pharmacies in 1992 in Indianapolis. Now more than 80% of Walgreen stores have drive-thrus. Walgreen also introduced one-hour photo services at its locations, now available in 98% of stores. Benefits Medical and Dental Insurance Comprehensive health and dental plans are available to Employees for themselves and their dependents. Employees may also choose to enroll in a company-sponsored HMO (for themselves and their families). Prescription Discount Covered prescriptions are available to Employees for a minimal co-pay; co-pay coverage for dependents is also available. Employee Discount Employees and their immediate family are entitled to a 15% discount on purchases at any Walgreens store. Retirement Benefits Through profit-sharing plan, employees can contribute 2% of their salary. Walgreen matches this contribution. Employee stock purchases are available at a 10% discount. On-site Childcare Licensed facility and highly-trained staff provide quality childcare at competitive tuition rates for children ages six weeks through six years. This benefit is available to parents who work at the Deerfield or Mt. Prospect offices. Updated June 18, 2007