Jean Coutu 4Q Full-Year Sales Up

Longueuil, Quebec, The Jean Coutu Group reported that fourth quarter total revenues were up by 254% to $2.77 billion, while full-year total revenues were up 216% to $9.62 billion. This was primarily attributed to the addition of Eckerd drug store operations.

For the fourth quarter, net earnings were $46.2 million, or 18 cents a share, compared with $32.6 million, or 14 cents per share, for the fourth quarter of the prior fiscal year. Fiscal 2005 net earnings were $104.4 million, or 41 cents a share, compared with $132.7 million, or 58 cents per share in fiscal 2004.

Fourth quarter U.S. retail same-store sales rose by 3.1%, pharmacy sales gained 3.8% and front-end sales picked up 1.6%, compared with the same quarter last year.