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Longs estimated that preliminary June pharmacy same-store sales wereunfavorably impacted by approximately 275 to 300 basis points as a result ofrecent generic introductions being substituted for higher-priced brand namedrugs. In addition, a reduction in cold, flu, and allergy prescriptions,primarily due to the impact of the switch of the prescription allergy medicineZyrtec to over-the-counter status, had an unfavorable impact of approximately125 to 150 basis points on pharmacy same-store sales.
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Longs estimated that preliminary June pharmacy same-store sales were alsofavorably impacted by approximately 100 to 125 basis points as a result of thecalendar shift in Memorial Day, which fell in the Company's fiscal month ofMay this year versus the fiscal month of June last year. The Company alsonoted that, as a result of a shift in its fiscal calendar, the fiscal month ofJune this year also included the first three days of July. Since there istypically an increase in the number of prescriptions filled in the firstseveral days of a month, this calendar shift favorably impacted preliminaryJune pharmacy same-store sales by approximately 150 to 200 basis points.
About the Company
Headquartered in Walnut Creek, California, Longs Drug Stores Corporation(NYSE: LDG) is one of the most recognized retail drug store chains on the WestCoast and in Hawaii. The Company operates 518 retail pharmacies and offers awide assortment of merchandise focusing on health, wellness, beauty andconvenience. Longs also provides pharmacy benefit management services andMedicare beneficiary prescription drug plans through its wholly-ownedsubsidiary, RxAmerica, LLC. Additional information about Longs and itsservices is available at http://www.longs.com and more information aboutRxAmerica is available at http://www.rxamerica.com.
Contact: 925-979-3979Periods ended July 3, 2008 Quarter Year Month to Date to Date (Dollars in millions) (5 weeks) (9 weeks) (22 weeks) Total retail drug store sales $475 $848 $2,068 Increase from comparable prior year period 2.3% 1.4% 2.3% Same-store sales increase (decrease): Pharmacy 2.6% 0.3% 0.4% Front-end (0.4)% (0.3)% 0.7% Total 1.1% 0.0% 0.6%
SOURCE Longs Drug Stores Corporation
