Walgreen's Alaska Store To Give Co Presence In All 50 States

   DOW JONES NEWSWIRES 
 

Walgreen Co. (WAG) will open a store Sunday in Alaska, giving the drugstore chain a retail presence in all 50 states.

Walgreen and CVS Caremark Corp. (CVS), both with more than 6,900 stores, are locked in a battle for supremacy in the retail drug market. CVS, whose retail sales are below Walgreen's, operates in 44 states and the District of Columbia.

The Alaska store, in Gov. Sarah Palin's hometown of Wasilla, will be the only 24-hour pharmacy in the state, Walgreen said. Two locations in Anchorage will follow in August. All three stores will offer local products and amenities to make shopping easier in cold weather.

"With an aging population and baby boomers in their 60s, Alaska's demand for pharmacy services is growing every year," said Bruce Philipp, Walgreen district manager for Alaska.

Walgreen, which had a breakneck pace of store openings, announced plans a year ago to slow down its growth rate.

Other retailers with stores in every state range from Home Depot Inc. (HD) to Brown Shoe Co. (BWS).

Walgreen shares were recently down 2.2% at $28.74. The shares have risen about a third since late October.

-By Jay Miller, Dow Jones Newswires; 212-416-2355; [e-mail]