Longs to remodel up to 46 stores

WALNUT CREEK, Calif. Longs Drug Stores announced Thursday that it plans to open or relocate approximately 30 to 35 stores and remodel up to 46 stores in fiscal 2008. Over the next five years, the company plans to grow its number of stores at a compound annual growth rate of 7%. During the second quarter, Longs opened or acquired eight stores, closed 16 stores and remodeled 11 stores. The company is estimating capital expenditures for the full year of fiscal 2008 to be in the range of $150 million to $200 million.