Walgreen Profit Rises 6.6% on Holiday Sales

Walgreen Co. said fiscal second-quarter profit rose 6.6% as higher holiday sales outweighed a cut in demand for medicines during a mild flu season.

Earnings climbed to $523.5 million, or 51 cents a share, from $490.9 million, or 48 cents, a year earlier. Sales in the period ended Feb. 28 rose 11% to $12.2 billion, the Deerfield, Ill., company said.

Comparable sales gained 6.5% after shoppers bought more holiday gifts, cards and wrapping paper. Same-store prescription sales growth fell.