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Longs Drug Stores posts 6.8 percent year-on-year increase for 2Q

BY Adam Kraemer

WALNUT CREEK, Calif. Longs Drug Stores today reported preliminary income for the second quarter ended July 31, 2008, of $27.5 million, or $0.76 per diluted share, a 6.8 percent increase compared with the quarter ended July 26, 2007, of $25.7 million, or $0.67 per diluted share.

Total revenues of $1.33 billion for the 13 weeks ended July 31, 2008, were 4.6 percent higher than the $1.27 billion reported for the 13 weeks ended July 26, 2007.

Retail drug store sales increased 0.5 percent to $1.20 billion for the 13 weeks ended July 31, 2008. Same-store sales decreased 1.1 percent with pharmacy same-store sales decreasing 0.6 percent and front-end same-store sales decreasing 1.6 percent. Pharmacy sales were 51.6 percent of retail drug store sales during the period, compared with 51.3 percent a year ago.

Pharmacy benefit services revenues increased 66.3 percent to $131.3 million from $79.0 million in the comparable period last year. Prescription drug plan revenues were $110.9 million compared with $65.7 million last year and pharmacy benefit management revenues were $20.4 million compared with $13.3 million a year ago.

Total revenues of $2.74 billion for the 26 weeks ended July 31, 2008 were 6.5 percent higher than the $2.57 billion reported for the 26 weeks ended July 26, 2007.

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Tide downsizes ‘Tide to Go’

BY Doug Desjardins

CINCINNATI Tide will release a new version of its Tide to Go stain remover this month that’s smaller and more portable. The Tide to Go Mini is about the size of a lipstick case and fits easily into handbags and pockets.

“The new ‘Mini’ gives everyone the reliable stain-fighting power with even more portability so they can carry the ‘Mini’ anywhere,” said Tide associate marketing director Kevin Crociata.

The ‘Mini’ dries quickly without leaving watermarks and works on everything from coffee stains to grease. It’s priced at $2.99 for a single tube and $5.49 for a two-pack.

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New Duracell flashlight delivers ‘daylite’

BY Doug Desjardins

BETHEL, Conn. Duracell has launched a new flashlight brand called Duracell Daylite that delivers a brighter and more focused beam than other brands on the market.

The flashlight arriving at retailers this month comes with TrueBeam technology that uses both a reflector and a lens to project a brighter, whiter beam of light without the typical “dark spot” found in most flashlight beams.

“We’ve re-engineered the common flashlight into a more powerful tool that will help give professionals and do-it-yourselfers the vision to do their jobs better,” said Rick June, Duracell vice president and general manager. The Duracell Daylite retails for an SRP of $24.99.

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