Shoppers Drug Mart Q2 sales rise 2.6%, profit rises slightly more than expected

The corporate logo of Shoppers Drug Mart is shown. THE CANADIAN PRESS/HO

July 19, 2012 - 8:10 AM

TORONTO - Shoppers Drug Mart Corp. (TSX:SC) says its second-quarter sales were up 2.6 per cent from the same time last year, rising to $2.5 billion.

The retailer's net income was $146 million or 70 cents per share, before adjustments.

Adjusted net income was $149 million or 71 cents per share — up 4.4 per cent from the same time last year and a penny ahead of estimates.

The adjusted profit excluded a $5-million pre-tax charge from the closure of two stores.

The Toronto-based pharmacy operator said stores open at least a year saw their sales rise by 2.2 per cent on average.

News from © The Canadian Press, 2012

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