Booyah! Buy! Buy! Buy! Jim Cramer gets bullish on WAG

Speaks with Walgreens CEO Greg Wasson on 'Mad Money'

NEW YORK — Jim Cramer on Thursday shared his bullishness on Walgreens' stock with viewers of his "Mad Money" investment advice program on CNBC during a discussion and personal tour of Walgreens' new flagship location smack in the middle of the money-makers on Wall Street. Cramer's not just a fan of Walgreens stock — he visits that new Duane Reade/Walgreens prototype two to three times per week. That makes it his personal neighborhood drug store.

"Part of my routine … is to come down to Wall Street every single morning, do my show here," Cramer said after introducing Walgreens president and CEO Greg Wasson during an on-location interview for his show. "I walk by this store, I was blown away and I realized you are reinventing the drug store format."

"What you're seeing here is a true transformation from what we call the traditional retail drug store to a retail health and daily living destination," Wasson responded. The new format features the best Walgreens has to offer in terms of on-site health care. "We're extending the scope of services that our pharmacists offer, but we're also co-locating doctors on premise and nurse practitioners on premise to extend the services that we can offer in community pharmacies," he added. Such services as on-demand immunizations and on-site acute care. "We're beginning to look at where health care's going, and you're actually going to see healthcare reform in action back here," Wasson told Cramer, motioning toward the pharmacy. "We're improving access, quality of care and lowering costs across the country with this kind of a concept."

Wasson also shared with Cramer the other important touchpoints Walgreens has with its consumers, such as its multichannel outreach through Walgreens.com and drugstore.com, and with its commitment to establish fresh and healthy food destinations in urban food deserts — where fresh food is not conveniently available to local communities. Other points of interest: Wasson assured Cramer that the Duane Reade Doctor on Premise was a profit and revenue stream, not just a loss-leading traffic driver. And Walgreens has been super successful with its "Up Market" department specifically catering to the local community, in this case Wall Street.

Comments

- 12:33 AM
homer nelson says

I think hardly any people knew about it, it will surely be helpful to others i think so due to this the traditional retail drug store to a retail health and daily living destination will have a rise in the market.

- 1:02 AM
Danniel Cruz says

Really Jim Cramer has a lot of experience in the stock market. I always try to go on his steps. I din't knew about the Walgreen's stock until I heard Jim Cramer talking about it. He is a wise adviser.

- 1:53 AM
MNC3333 says

Most do not know that Walgreens has with its consumers, such as its multichannel outreach through Walgreens.com and drugstore.com, and with its commitment to establish fresh and healthy food destinations in urban food deserts — where fresh food is not conveniently available to local communities. Other points of interest: Wasson assured Cramer that the Duane Reade Doctor on Premise was a profit and revenue stream, not just a loss-leading traffic driver.

- 11:09 PM
jack1000 says

Jim is definitely so right on this. Walgreens is one of the best drug stores out there. Their sales are going through the roof. The stock is such a great investment.

- 6:50 AM
julie watkinson says

That's a excellent news which Wasson has shared with us, as Walgreens has it's multichannel outreach through Walgreens.com and drugstore.com. Now local people will get relaxed because they will get a good service.

- 10:41 AM
rhammerle says

If Walgreens does more to connect its doctor on the premises office than it has done with its nurse practitioner on the premises clinic it will be more than a loss leader. Otherwise, it will not. Ron Hammerle, Chairman and CEO Health Resources, Ltd. Tampa, Florida

- 5:52 AM
ayrahans says

I should have traveled because I helps me think a lot especially the adventure travel. palawan tours

Login or Register to post a comment.