Walgreen reported fourth quarter earings declined 4% to 40 cents compared to 41 cents a year ago. For the fiscal 2007 earnigs jumped $2.03 from $1.72 per share on 13.4% rise in sales to $53.8 billion. The company blamed lower generic drug reimbursements and higher advertising and staffing costs. The company plans to open nearly 550 stores in the fiscal 2008 and operate 400 health clinics. The company plans to spend $2 billion in capital expenditure to open new stores and for technology.
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