Business
Shoppers Drug Mart Corporation reports third quarter results
-       Strong performance in a challenging business environment ...
About this update from Serrano Resources Ltd.
[{"type":"text","content":"\n\n\n-     Strong performance in a challenging business environment-     Continued strength in sales and prescription count growth\n\n\nTORONTO, Nov. 12, 2013 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC)\n today announced its financial results for the third quarter ended\n October 5, 2013.\n\n\nThird Quarter Year-Over-Year Highlights\n\n\nSales increase of 2.4% to $3.287 billion\n\n\nSame-store increase of 2.2%\n\n\nPharmacy sales increase of 2.7% to $1.582 billion\n\n\nSame-store increase of 1.8%\n\n\nRetail prescription count increase of 5.3%\n\n\nSame-store increase of 4.1%\n\n\nFront store sales increase of 2.2% to $1.705 billion\n\n\nSame-store increase of 2.4%\n\n\nNet earnings per share of $0.83, an increase of 2.5%\n\n\nAdjusted net earnings per share of $0.88, an increase of 3.5% compared\n to adjusted net earnings per share of $0.85\n\n\nYear-to-Date Highlights\n\n\nSales increase of 3.1% to $8.311 billion\n\n\nSame-store increase of 2.2%\n\n\nPharmacy sales increase of 3.0% to $3.996 billion\n\n\nSame-store increase of 1.6%\n\n\nRetail prescription count increase of 6.4%\n\n\nSame-store increase of 4.8%\n\n\nFront store sales increase of 3.2% to $4.315 billion\n\n\nSame-store increase of 2.7%\n\n\nNet earnings per share of $2.14, an increase of 3.9%\n\n\nAdjusted net earnings per share of $2.19, an increase of 2.8% compared\n to adjusted net earnings per share of $2.13\n\n\n\n\n\nThird Quarter Results (16 Weeks)\n\n\nThird quarter sales were $3.287 billion, an increase of 2.4% over the\n same period last year, driven by continued strength in prescription\n count growth and solid results in the front of the store, where the\n average basket size increased on steady customer traffic.  On a\n same-store basis, sales increased 2.2% during the quarter.\n\n\nPharmacy sales were $1.582 billion in the third quarter, an increase of\n 2.7% 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 long-term care business, were partially offset by a\n further reduction in average prescription value.  On a same-store\n basis, pharmacy sales increased 1.8% during the quarter.  During the\n third quarter of 2013, the number of prescriptions dispensed at retail\n increased...