TORONTO, March 5 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) presented at the CIBC World Markets Retail Conference this morning. In the presentation document reference was made to sales growth of 9% - 10% in the Company's outlook for 2008. This represents sales growth adjusted to a 52-week fiscal year. The Company reiterates its guidance for total sales growth of 10.5% - 12% for 2008, which is a 53-week fiscal year.
For further information on the Company's 2008 outlook, please refer to its Fourth Quarter 2007 Results press release dated February 5th, 2008.
Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing. The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Quebec). With more than 1,060 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in each province and two territories, the Company is one of the most convenient retailers in Canada. The Company also owns and operates 64 Shoppers Home Health Care stores, making it the largest Canadian retailer of home health care products and services. In addition to its retail store network, the Company also owns MediSystem Technologies Inc., a provider of pharmaceutical products and services to long-term care facilities in Ontario and Alberta.
Forward-looking Information and Statements
This news release contains forward-looking information and statements which constitute "forward-looking information" (under Canadian securities law), and which may be material, regarding, among other things, the Company's beliefs, plans, objectives, estimates, intentions and expectations, including as they relate to its operating and financial results, capital expenditures, dividend policy and the ability to execute on its operating, investing and financing strategies. The forward-looking information and statements contained herein are based on certain assumptions by management, certain of which are set out in this news release. Inherent in the forward-looking information and statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to control or predict. Actual results or developments may differ materially from those contemplated by the forward-looking information and statements. The material risk factors that could cause actual results to differ materially from the forward-looking information and statements contained herein include, without limitation: the risk of adverse changes to laws and regulations relating to prescription drugs and their sale, including pharmacy reimbursement and the availability of manufacturer allowances, or changes to such laws and regulations that increase compliance costs; the risk of adverse changes to existing pharmacy reimbursement programs and the availability of manufacturer allowance funding; the risk of increased competition from other retailers; the risk of exposure to fluctuations in interest rates; the risk of material adverse changes in foreign currency exchange rates; the risk of an inability to attract and retain pharmacists; the risk of changes to the relationships of the Company with third-party service providers; the risk that the Company will not be able to lease or obtain suitable store locations on economically favourable terms; the risk that new or changes to current federal and provincial laws, rules and regulations, including environmental laws, rules and regulations, may adversely impact the Company's business and operations; the risk that changes in tax law, or changes in the way tax law is expected to be interpreted, may adversely impact the Company's business and operations; the risk that new or changes to existing accounting pronouncements may adversely impact the Company; and the risk of damage to the reputation of brands promoted by the Company, or to the reputation of any supplier or manufacturer of these brands.
This is not an exhaustive list of the factors that may affect any of the Company's forward-looking information and statements. Investors and others should carefully consider these and other risk factors and not place undue reliance on forward-looking information and statements. Further information regarding these and other risk factors is included in the Company's public filings with provincial securities regulatory authorities including, without limitation, the section entitled "Risks and Risk Management" in the Company's Management's Discussion and Analysis for the 52 week period ended December 30, 2006 and in the section entitled "Risk Factors" in the Company's Annual Information Form for the same period. The forward-looking information and statements contained in this news release represent the Company's views only as of the date of this release. Forward-looking information and statements contained in this news release about prospective results of operations, financial position or cash flows that are based upon assumptions about future economic conditions and courses of action are presented for the purpose of assisting the Company's shareholders in understanding management's current views regarding those future outcomes, and may not be appropriate for other purposes. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company does not undertake to update any forward-looking information and statements, except to the extent required by applicable securities laws.
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