Walgreen Co posted a lower quarterly profit as the company spent more to promote nonprescription items amid the weak economy while also taking charges for a restructuring aimed at saving money long-term.

The company also saw sales and earnings pressured because 2009 had one less day in the quarter than 2008, which was a leap year.

Walgreen posted second-quarter profit of $640 million, or 65 cents per share, in the fiscal second quarter that ended February 28, compared with a profit of $686 million, or 69 cents per share, a year earlier.

In the past, drugstores could typically charge more than chains such as Wal-Mart Stores Inc because customers were looking for convenience, not value. Now Walgreen and its rivals are selling their own lower-priced brands and putting more items on sale to keep shoppers coming back during the recession.

Walgreen shares traded at $25.45 on Monday in premarket trading, up from Friday's New York Stock Exchange close of $24.29.

(Reporting by Brad Dorfman and Jessica Wohl; Editing by Maureen Bavdek)

Walmart Down