Longs Drugs Jan. sales up 1 percent nationwide
Advertiser Staff
Longs Drug Stores Corp. said that early results indicate that its January same-store sales rose 1 percent, helped by increases in both pharmacy and nonpharmacy sales.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.
Same-store pharmacy sales rose 1.2 percent, while same-store front-end sales rose 0.7 percent.
Longs, which operates Hawai'i's largest chain of drug stores, said its total retail sales from continuing operations rose 29 percent to $452 million.
The company is closing 23 stores in Colorado, Oregon and Washington that are classified as discontinued operations.
Shares closed up $1.88 cents at $47 on the New York Stock Exchange.