Shoppers Drug Mart Corporation reports strong fourth quarter results

About this update from Serrano Resources Ltd.

- Momentum continues - Sales gains in pharmacy and front of store - Ongoing strength in prescription count growth TORONTO, Feb. 6, 2014 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) today announced its unaudited financial results for the fourth quarter and fiscal year ended December 28, 2013. Fourth Quarter Year-Over-Year Highlights Sales increase of 0.9% to $2.747 billion Same-store increase of 1.2% Pharmacy sales increase of 0.8% to $1.230 billion Same-store increase of 0.5% Retail prescription count increase of 5.0% Same-store increase of 4.7% Front store sales increase of 1.1% to $1.517 billion Same-store increase of 1.7% Net earnings per share of $0.85 Adjusted net earnings per share of $0.86, an increase of 1.2% Fiscal 2013 Highlights Sales increase of 2.6% to $11.058 billion Same-store increase of 1.9% Pharmacy sales increase of 2.5% to $5.226 billion Same-store increase of 1.3% Retail prescription count increase of 6.1% Same-store increase of 4.8% Front store sales increase of 2.6% to $5.831 billion Same-store increase of 2.5% Net earnings per share of $2.99, an increase of 2.7% Adjusted net earnings per share of $3.05, an increase of 2.7% Shareholder distributions of $430 million Declared four quarterly dividends of 28.5 cents per common share Repurchased 4,524,400 common shares at an aggregate cost of $201 million Fourth Quarter Results (12 Weeks) Fourth quarter sales were $2.747 billion, an increase of 0.9% over the same period of the prior year, driven by sales gains in the front of the store and continued strength in prescription count growth.  On a same-store basis, sales increased 1.2% during the quarter. Pharmacy sales were $1.230 billion in the fourth quarter, an increase of 0.8% compared to the same period of the prior year, as strong growth in the number of prescriptions filled at retail was partially offset by a further reduction in average prescription value.  On a same-store basis, pharmacy sales increased 0.5% during the quarter.  During the fourth quarter of 2013, the number of prescriptions dispensed at retail increased 5.0% compared to the same period of the prior year and was up 4.7% on a same-store basis.  Pharmacy volume growth was evident in all regions of the country and remains particularly strong in Ontario.  Year-over-year, average prescription value at retail declined a further 3.8% during the...

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