China Nepstar reports Q4 sales, profits up

Shenzhen, China Drug store chain China Nepstar Chain Drugstore announced Monday its fourth quarter and fiscal year-end 2008 results, ending Dec. 31, 2008, which showed fourth-quarter gross profit up 17.7%, revenues up 25.2% to US$96 million and same-store sales up 0.9%.

Year-end results showed gross profit up 27.5%, revenues up 22.6% to US$351 million and same-store sales down 0.8%, impacted by heavy snowstorms in the first quarter, and an earthquake and severe rainstorm in the second quarter.

In fourth quarter 2008, Nepstar opened 87 new stores organically and closed 45 stores. As of Dec. 31, 2008, Nepstar had a total of 2,709 stores in operation.

China Nepstar Chain Drugstore is China's largest retail drug store chain, based on the number of directly operated stores.