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Walgreens Q3 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 9:55 AM ET June 25 2009


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Okay, great. Thank you.

Operator

And we’ll go next to Debra Weinswig of Citi.

Debra Weinswig – Citigroup

Good morning. Greg, could you go through some of the details in terms of what you are doing to be proactive in terms of shaping healthcare reform in Washington? And then also with regard to CCR, could you maybe share with us some of the qualitative feedback from your customers?

Gregory D. Wasson

Deborah, I’ve spent a lot of time obviously in D.C. over the last several weeks and when I go out, what I intend to do is really three things; one, I want to get a better understanding of what the latest thinking is in some of the plans that are being made, and as you know it’s changing daily sometime. But secondly, I want to position ourselves as an employer as well and be able to talk about the fact that I want to continue to provide benefit, medical benefit to my employees because I think that’s where real innovation happens, is in the private sector. And then I also talk a lot about what I believe we can do to help as a provider, and certainly I think that is along the lines of prescription drugs. I think that we have community pharmacists that can be utilized in greater ways and there’s a lot of interest in how community pharmacists can be used going forward. And I talk a lot about our retail clinics, as you might expect, and there’s a lot of interest in that model being able to provide access and lower cost acute care. And I’m encouraged, Deborah, by the opportunity that we can play and there’s a lot of interest from the administration along those lines.

Debra Weinswig – Citigroup

And then the --

Gregory D. Wasson

As far as CCR and qualitative, I think again our customer feedback has been good. Certainly we are early on and we’ve got to do a lot more of that but again, I think based on the early metrics that we are seeing, we’re pleased with the lift that we are seeing so far, we’re pleased with the feedback we’re getting. Obviously we are going to be doing a deep dive over the next couple of months and understand that better but so far, we feel pretty good.

Debra Weinswig – Citigroup

And then on the CCR stores, has it been traffic or ticket or both that’s been giving you the lift?

Gregory D. Wasson

It’s been both.

Debra Weinswig – Citigroup

Great. Well, congratulations and best of luck.

Gregory D. Wasson

Thank you.

Operator


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