Market News
15Nov2006 |
Profits Climb 15% at Shoppers Drug MartHigher sales helped Shoppers Drug Mart post a 15.1% earnings jump to $124 million in its third quarter, compared to $108 million a year ago. The Toronto-based drugstore chain said the continued rollout of its larger-format stores and the addition of more high-end products to its offering helped it achieve sales of $2.32 billion in Q3, an increase of 8.9%. Shoppers also said that prescription sales were up 9.7%, while front store sales jumped 8.3%. The retailer also enjoyed same-store sales of 6.6% during the quarter ended October 7, 2006. Source: Canadian Grocer E-Newsletter, November 15, 2006. 
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