Business
Shoppers Drug Mart Corporation reports second quarter results
Sales gains and prescription count growth highlight solid operating performance TORO...
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[{"type":"text","content":"\n\n\nSales gains and prescription count growth highlight solid operating\n performance\n\n\nTORONTO, July 18, 2013 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC)\n today announced its financial results for the second quarter ended June\n 15, 2013.\n\n\nSecond Quarter Year-Over-Year Highlights\n\n\nSales increase of 3.3% to $2.538 billion\n\n\nSame-store increase of 2.0%\n\n\nPharmacy sales increase of 3.1% to $1.208 billion\n\n\nSame-store increase of 1.3%\n\n\nRetail prescription count increase of 7.0%\n\n\nSame-store increase of 5.1%\n\n\nFront store sales increase of 3.6% to $1.331 billion\n\n\nSame-store increase of 2.6%\n\n\nNet earnings per share of $0.73, an increase of 5.8%\n\n\nAn increase of 2.8% compared to prior year adjusted net earnings of\n $0.71\n\n\nRepurchased 2,040,000 common shares at an aggregate cost of $93 million\n\nYear-to-Date Highlights\n\n\nSales increase of 3.6% to $5.024 billion\n\n\nSame-store increase of 2.2%\n\n\nPharmacy sales increase of 3.2% to $2.415 billion\n\n\nSame-store increase of 1.4%\n\n\nRetail prescription count increase of 7.1%\n\n\nSame-store increase of 5.3%\n\n\nFront store sales increase of 3.9% to $2.609 billion\n\n\nSame-store increase of 2.9%\n\n\nNet earnings per share of $1.31, an increase of 4.8%\n\n\nAn increase of 3.1% compared to prior year adjusted net earnings of\n $1.27\n\n\nRepurchased 4,049,400 common shares at an aggregate cost of $178 million\n\n\n\n\n\nSecond Quarter Results (12 Weeks)\n\n\nSecond quarter sales were $2.538 billion, an increase of 3.3% over the\n same period last year, driven by strong results in the front of the\n store, where the Company experienced sales gains in all regions of the\n country, and continued strength in prescription count growth.  On a\n same-store basis, sales increased 2.0% during the quarter.\n\n\nPharmacy sales were $1.208 billion in the second quarter, an increase of\n 3.1% compared to the same period last year, as strong growth in the\n number of prescriptions filled at retail, combined with sales gains in\n the Company's MediSystem Technologies business, were partially offset\n by a further reduction in average prescription value.  On a same-store\n basis, pharmacy sales increased 1.3% during the quarter.  During the\n second quarter of 2013, the number of prescriptions dispensed at retail\n increased 7....