In a tough economic environment, Walgreen posted an impressive 12% increase in Q4 profits. Congratulations Walgreen!
Given the roller-coaster stock market, the cynic in us may attribute this to a surge in the sale of pain relievers and antidepressants. But while revenues did increase, Walgreen executives attribute a portion of their improved results to cost-cutting.
We’ve posited on these pages about the strategy of combating the economic slowdown with technology focused on improving operations. It is unclear if this was part of Walgreen’s cost-cutting activities. One thing is certain, however. Success is possible in our current environment. And investors will flock to companies who deliver outstanding results rather than offer excuses.