Walgreens 2008 Annual Report Download - page 2

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• Walgreens is the nation’s largest drugstore chain,
with fiscal 2008 sales of $59 billion. The company
has 237,000 employees.
• This is the company’s 34th consecutive year
of record sales and earnings. It’s also the 33rd
consecutive year Walgreens has raised its quarterly
dividend – paid every quarter since 1933.
• Walgreens forms its Health & Wellness division
to bring together in-store clinics and worksite
health centers following the acquisitions of I-trax
and Whole Health Management.
• More than one million people enroll in Walgreens
Prescription Savings Club, which provides prescription
discounts for uninsured and underinsured patients.
• Walgreens reduces organic drugstore growth from
9 percent to a long-term target rate of 5 percent.
This will provide flexibility to invest in core strategies
and improve shareholder value.
• The company prices a $1.3 billion, five-year bond
offering to be used for repayment of short-term debt
incurred under its commercial paper program and
general corporate purposes.
• Walgreens fills 617 million prescriptions – 17.6 percent
of the U.S. retail market. Pharmacy is 65 percent of
our business.
• The company signs a specialty pharmacy contract with
Prime Therapeutics, a pharmacy benefits manager
owned by 10 Blue Cross Blue Shield plans covering
20 million lives.
• Walgreens is named to Fortune magazine’s Most Admired
Companies in America list for the 15th consecutive
year, and is ranked 40th on the Fortune 500 list of the
largest U.S.-based companies.
2008 Milestones
About the Cover
Legendary Chicago Cub Ron Santo is the color commentator for Cubs’
radio broadcasts and one of millions of people who use Walgreens for
their prescription needs. In 1959, the 18-year-old Santo was diagnosed
with juvenile diabetes. He had just signed his first professional contract.
As he rose to fame as a five-time Gold Glove winner and All-Star third
baseman, no one knew he had diabetes. In 1971, he finally revealed
his secret to the crowd at Wrigley Field.
Today, Santo is a spokesperson for the disease and raises $5 –6 million
each year for the Juvenile Diabetes Research Foundation (JDRF) through
the Ron Santo Walk to Cure Diabetes. Walgreens – the official pharmacy
of the Chicago Cubs – is a major fundraiser for JDRF. Every time a Cub
earned a base on balls during their divisional championship 2008 season,
Walgreens donated an additional $100 to JDRF.
Ron Santo’s pharmacists, Linda Riegelhaupt (below, left) and
Nancy Davis in Bannockburn, Illinois, treasure the Juvenile Diabetes
Research Foundation paper sneaker that Santo signed and presented
to their pharmacy.
We will provide the most convenient access
to consumer goods and services…and pharmacy,
health and wellness services…in America.
We will earn the trust of our customers
and build shareholder value.
We will treat each other with respect and
dignity and do the same for all we serve.
We will offer employees of all backgrounds
a place to build careers.
WALGREENS MISSION STATEMENT