Market News
03Mar2006 |
Coutu Canadian Sales Rise; American Sales DropJean Coutu Group Inc. has said that, while sales at its American stores are on the decline (same-store sales at its US network fell 0.1% in January), sales at its Canadian outlets are on the rise. The company bought 1,549 US Eckerd drugstores in July 2004 (for US$2.4 billion) and has struggled with their integration. Total US sales fell 1.4% to $709.4 million in January, reflecting, in part, the closing of 78 Eckerd stores. Meanwhile, overall sales at Jean Coutu\'s Canadian stores rose 3% to $186 million. Source: Canadian Grocer E-Newsletter, March 3rd. 2006. 
|