Tuesday, May 01, 2007

Shoppers Drug Mart profit jumps almost 19 percent

From Reuters:
Shoppers Drug Mart (SC.TO) reported an 18.7 percent jump in first-quarter profit on Monday, as Canada's largest drugstore chain continued to enjoy robust prescription and front-store sales.

Shoppers said it earned C$85.1 million ($76.6 million), or 39 Canadian cents a share, for the quarter ended March 24, up from a profit of C$71.7 million, or 33 Canadian cents a share, in the corresponding period a year earlier.

Solid top-line growth, an enhanced sales mix and an ongoing commitment to cost reduction helped power profit higher in the quarter, the company said, noting those factors offset higher operating costs and increased amortization in new and relocated stores. ...more

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