Walgreen opens new flagship store in downtown Chicago
Deerfield-based Walgreen Co. is bringing its flagship store back to Chicago's State Street.
The store had been downtown from the 1920s until it was closed in 2005.
Matthew Coffina, an equity analyst at Morningstar, said Walgreen's purchase of the drugstore chain Duane Reade in 2010 could have an impact on the new store's design.
"Duane Reade was known to be very successful in the front of the store. They got significantly higher percentage of their total sales from the front end of the store. They are particularly big in high end beauty products so I think Walgreens may be taking some of those lessons learned and transferring them to a few other stores like the one in Chicago," Coffina said.
The new Walgreens store will open Tuesday. It will offer services such fresh food, pastries and manicures.
Coffina said it remains to be seen whether these new services will lead to higher profits.