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Walgreens Slows Down Growth; CPN Store Finally Set to Open


By Lane Roberts

The economic downturn seems to be slowing growth of the drugstore giant, Walgreens.

In late December, the Deerfield, Illinois-based drugstore announced they are cutting corners by delaying new store openings, while also reporting a 10.5 percent drop in quarterly profits. Walgreens opened and acquired 212 stores in the first quarter of last year, which led to higher selling, general and administrative expenses.

Many residents of the Castle Pines community have inquired about the opening date for the newly built Walgreens, located at 7370 Lagae Ranch Road at Castle Pines Parkway. Construction on the store was completed last October.

According to the local district manager’s office for Walgreens, the new store in Castle Pines North is tentatively scheduled to open on February 16.

Walgreens Media Relations Specialist Vivika Vergara confirmed the CPN store was opening in “mid-February” but could not pinpoint an exact date.

Walgreens is the nation’s largest drugstore chain with fiscal 2008 sales of $59 billion. The company operates 6,636 drugstores in 49 states, the District of Columbia and Puerto Rico. More company information can be found at www.walgreens.com.

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