Longs Drugs reports 2Q income growth

WALNUT CREEK, Calif. Longs Drug Stores reported preliminary income from continuing operations for the second quarter ended July 31 of $27.5 million, or 76 cents per diluted share, a 6.8% increase compared with income from continuing operations for the second quarter ended July 26, 2007 of $25.7 million, or 67 cents per diluted share.

Retail drug store sales increased 0.5% to $1.20 billion for the 13 weeks ended July 31. Same-store sales decreased 1.1% with pharmacy same-store sales decreasing 0.6% and front-end same-store sales decreasing 1.6%. Pharmacy sales were 51.6% of retail drug store sales during the period, compared with 51.3% a year ago.