Market News
21Jul2006 |
Profits Climb 18% at Shoppers Drug MartStrong second-quarter sales across the country helped Shoppers Drug Mart Corp. boost its profit by 18% to $94 million. The Toronto-based retailer said the 8.9% jump in sales during the Q2 period ending June 17, was helped by an increase in prescription drug sales. Sales reached $1.77 billion from $1.62 billion a year ago and same store sales increased 7%. Commenting on the chain\'s performance, chairman and chief exec Glenn Murphy said: "In the back half of the year we will focus on executing our real estate plan, strengthening our mix and improving operating leverage." Source: Canadian Grocer E-Newsletter, July 21, 2006. 
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