Ranked No. 78 (up from its previous No. 90 position), according to the Fortune 100, Walgreen Company is quietly dominating the drugstore market through an operating philosophy of quality over quantity and growth through building rather than through acquisition. As a result, selecting prime, high-traffic locations - with the majority offering drive-through pharmacies (a concept originally developed at Walgreens) - means the company spouts a "convenience" philosophy that has skyrocketed its one-year sales in 2001 to $24.6 billion (an increase of 16.1 percent from 2000 figures). According to information from its Deerfield, IL offices, the company employs approximately 200 full-time professionals involved in facilities, and owns/oversees six office buildings, totaling 700,000 square feet; 3,700 chain stores, totaling 52 million square feet; and 10 industrial buildings, totaling 6 million square feet. Dollar volume of capital spending toward facilities in 2002 is estimated at $300 million. With respect to new construction, 1.5 million square feet of space in projects will be completed in 2002.
[Editors' Note: Walgreens is a company on the go - and growing (in brand recognition and sales). Focusing on location and customer convenience factors that are facilities-driven, the organization has been able to surpass the sales of its drugstore rivals that offer more locations and stores. The drive-through pharmacy - being duplicated by many of these rivals - is a direct line to an aging society that returns such convenience with unwavering loyalty. Walgreens did it first.]