Business

Market Movers

Important gauge falls at pharmacy giant

Walgreen operates more than 8,000 drugstores.

JB Reed/Bloomberg News/File

Walgreen operates more than 8,000 drugstores.

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A key Walgreen Co. revenue gauge slid more than analysts expected in December. The Deerfield, Ill., company said revenue from stores open at least a year dropped 6.1 percent last month as a shift toward generic drugs and a calendar quirk hurt sales. Pharmacy revenue tumbled 8.9 percent, while revenue from the rest of the stores fell 2.3 percent. Analysts had expected a slightly larger-than-reported drop of 9 percent drop in pharmacy revenue.

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