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Business

Walgreen profit falls, as expected

Walgreen 4Q profit falls 55 pct, tops forecasts

Walgreen Co.’s fourth quarter net income fell 55 percent compared with last year when a big gain inflated results for the nation’s largest drugstore chain.

A business split that drove away customers and a multibillion-dollar overseas expansion also put a sizeable dent in the Deerfield, Ill., company’s earnings.

Walgreen said Friday it earned $353 million, or 39 cents a share, in this year’s quarter. That compares to $792 million, or 87 cents a share, a year ago.

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