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Longs Drug Jan. same-store sales rise.
(From AFX Europe (Focus))
WALNUT CREEK, Calif. (AFX) - Drugstore operator Longs Drug Stores Corp. on Thursday said same-store sales grew 3.4 percent in January, beating Wall Street estimates.
Same-store sales, or sales in stores open at least one year, are a key measure of retail industry performance.
Analysts polled by Thomson Financial on average expected same-store sales to rise 2 percent.
Pharmacy same-store sales grew 4.2 percent, better than Wall Street's forecast for 3.4 percent growth. Front-end, or non-prescription, same-store sales rose 2.5 percent, higher than the 0.6 percent rise analysts were projecting.
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