WALNUT CREEK, Calif., Oct. 9 Longs Drug StoresCorporation (NYSE: LDG) today reported preliminary total retail drug storesales for the 5-week, 9-week and 35-week periods ended October 2, 2008.
Longs estimated that preliminary September pharmacy same-store sales wereunfavorably impacted by approximately 300 to 325 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.
The Company also estimated that preliminary September pharmacy same-storesales were favorably impacted by approximately 75 to 100 basis points as aresult of a shift in the fiscal calendar. The first two days of October wereincluded in the fiscal month of September. Since there is typically anincrease in the number of prescriptions filled in the first several days of amonth, this calendar shift favorably impacted September pharmacy sales andwill unfavorably impact October pharmacy sales.
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 526 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 October 2, 2008 Quarter Year Month to Date to Date (Dollars in millions) (5 weeks) (9 weeks) (35 weeks) Total retail drug store sales $447 $811 $3,232 Increase from comparable prior year period 0.0% 0.4% 1.4% Same-store sales increase (decrease): Pharmacy 0.4% (0.4)% (0.1)% Front-End (3.9)% (2.8)% (0.8)% Total (1.7)% (1.6)% (0.4)%
SOURCE Longs Drug Stores Corporation