Longs Reports Preliminary March Retail Drug Store Sales
Posted on: Thursday, 10 April 2008, 18:00 CDT
WALNUT CREEK, Calif., April 10 /PRNewswire-FirstCall/ -- Longs Drug Stores Corporation today reported preliminary total retail drug store sales for the five-week and nine-week periods ended April 3, 2008.
Periods ended April 3, 2008 Month Quarter to Date (Dollars in millions) (5 weeks) (9 weeks) Total retail drug store sales $474 $853 Increase from comparable prior year period 4.7% 4.0% Same-store sales increase: Pharmacy 0.1% 1.0% Front-end 5.7% 3.2% Total 2.8% 2.1%
Longs estimated that preliminary March front-end same-store sales were favorably impacted by approximately 350 to 400 basis points as a result of the three-week shift in Easter holiday sales. Easter occurred on March 23 this year versus April 18 last year.
Longs estimated that preliminary March pharmacy same-store sales were unfavorably impacted by approximately 525 to 575 basis points as a result of recent generic introductions being substituted for higher-priced brand name drugs. In addition, the switch of the prescription allergy medicine Zyrtec to over-the-counter status and a mild conclusion to the cold and flu season versus last year had an unfavorable impact of approximately 125 to 150 basis points on pharmacy same-store sales.
About the Company
Headquartered in Walnut Creek, California, Longs Drug Stores Corporation is one of the most recognized retail drug store chains on the West Coast and in Hawaii. The Company operates 512 retail pharmacies and offers a wide assortment of merchandise focusing on health, wellness, beauty and convenience. Longs also provides pharmacy benefit management services and Medicare beneficiary prescription drug plans through its wholly-owned subsidiary, RxAmerica, LLC. Additional information about Longs and its services is available at http://www.longs.com/ and more information about RxAmerica is available at http://www.rxamerica.com/.
Contact: 925-979-3979
Longs Drug Stores Corporation
CONTACT: Longs Drug Stores Corporation, +1-925-979-3979
Web site: http://www.longs.com/http://www.rxamerica.com/
Source: PRNewswire-FirstCall
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