Strong Rx sales push earnings up 7% in third quarter at SDM

Drug Store News, Dec 9, 1991

Strong Rx sales push earnings up 7% in third quarter at SDM

MONTREAL - Increased prescription drug sales helped fuel growth at Shoppers Drug Mart, which recorded a 7 percent increase in operating earnings for the third quarter ended Sept. 30, according to parent Imasco.

Operating earnings for the drug stores were $21.2 million, and $56.5 million for the first nine months, a 5 percent increase from last year's comparable nine months.

Drug store revenues were $40.2 million, 10 percent above last year's third quarter, with nine-month revenues of $111.4 million, 7 percent better.

The diversified company, which also owns the Hardee's restaurant chain, posted total third quarter systemwide sales of $4.15 billion, a 5 percent increase from last year.