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Walgreen, CVS Post Same-store Sales Declines: Keep Eye on Retail HOLDRS RTH
By Market News Video Staff, Wednesday, November 3, 11:40 AM ET
Walgreen (NYSE:WAG) posted a 1.3% decline in same-store sales today, more than double the decline that analysts expected.
Rival CVS Caremark (NYSE:CVS) posted a decline in same-store sales today as well, on earnings that were just ahead of expectations.
Both stocks are in the Retail HOLDRS (AMEX:RTH), trading down 0.4% Wednesday, with Walgreen in the top five at 6.45% of the portfolio, and CVS with 4.3% of the total.
Both are also in many consumer staples funds, including the First Trust Consumer Staples AlphaDEX Fund (AMEX:FXG), with CVS in the top five, at 4.55% of the total holdings, and Walgreen making up 2.91% of the fund. That fund is flat today.
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