Longs Reports Preliminary August Retail Drug Store Sales
WALNUT CREEK, Calif., Sept. 4 /PRNewswire-FirstCall/ — Longs Drug Stores Corporation today reported preliminary total retail drug store sales for the 4-week and 30-week periods ended August 28, 2008.
Periods ended August 28, 2008 (Dollars in millions) Year Month to Date (4 weeks) (30 weeks) Total retail drug store sales $364 $2,785 Increase from comparable prior year period 0.9% 1.6% Same-store sales increase (decrease): Pharmacy (1.3)% (0.2)% Front-end (1.4)% (0.2)% Total (1.4)% (0.2)%
Longs estimated that preliminary August pharmacy same-store sales were unfavorably impacted by approximately 275 to 300 basis points as a result of recent generic introductions being substituted for higher-priced brand name drugs. In addition, a reduction in cold, flu, and allergy prescriptions, primarily due to the impact of the switch of the prescription allergy medicine Zyrtec to over-the-counter status, 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 523 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/