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• In an interview with the Wall Street Journal, Walgreen CEO Gregory Wasson says that he believes that the worst of the recession may be history, that sales appear to have bottomed out in January and began rebounding in March and April. “Most of us think the worst case scenario we did in our planning is probably off the table," Wasson says.

However, Wasson also says that it remains unclear what the long-term impact of the recession will be on consumer spending habits, and says that it already is evident that credit card usage is in “dramatic decline.”

• Walgreen announced that it completed the acquisition of 31 Drug Fair stores in New Jersey, the purchase of which had originally been announced when Drug fair declared bankruptcy last March. Terms of the deal have not been disclosed.

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