Wednesday, November 07, 2007

Shoppers Drug Mart's profits jump

From the Toronto Star:
Shoppers Drug Mart Corp. (TSX: SC), the country's largest drug store operator, said Tuesday that further forays into organic foods, beauty brands and a stepped up focus on private label brands are on the horizon next year after a strong third quarter.

"We had a very good Q3 and will look forward to a very strong Q4, too, and we look forward to a very strong Q1 next year," Shoppers president and CEO Jurgen Schreiber said during a conference call.

Strong growth across Canada led by gains in Western Canada and Quebec helped Shoppers increase its third quarter profits and sales, the company reported Tuesday.

The Toronto company said third quarter profits rose 15.1 per cent to $143 million from $124 million the previous year on a sales jump of more than nine per cent. ...more

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