Walgreen Company (WAG) Misses Q3 Estimates, Stock Tumbles

Pharmacy chain Walgreen Company (NYSE:WAG) missed analysts’ estimates, amid weak economy, lagging front-end sales and lower customer traffic. Walgreen Company (NYSE:WAG) posted $624 million of earnings, or 65 cents per share, in the fiscal third quarter ended May 31, from $537 million, or 62 cents per share, a year earlier. The drugstore chain said sales in the quarter ended May 31 rose 3.2 percent to $18.3 billion, on the back of an 8.7 percent increase in prescription volume. The quarterly sales fell short of the analysts’ average estimate of $18.43 billion. However, Walgreen Company (NYSE:WAG) also missed expectations on third quarter…