Duane Reade reports drop in 1Q comps

NEW YORK Duane Reade Holdings reported first quarter 2008 net retail store sales, which exclude pharmacy resale activity, increased 3.7% to $414.9 million from $400 million in the first quarter of 2007. Total same-store sales increased by 4.5% during the first quarter of 2008, with a front-end same-store sales increase of 7% and a pharmacy same-store sales increase of 1.5%.

John Lederer, chairman and ceo, commented, "We are pleased with our strong start to the year, which highlights the ongoing momentum from our operating initiatives. We are gratified that our improved merchandising and customer service programs are resonating with our customers, enabling us to continue to grow sales and margins and drive the business forward."

According to the company, front-end sales growth was driven by continued strong performance in the food and beverage categories, over-the-counter products, and health and beauty care items.