Shoppers Drug Mart has reported that its net earnings for the first quarter ended March 28, 2009 increased 6.1% to C$107m or C$0.49 per diluted share, compared to C$101m or C$0.46 per diluted share in the first quarter of 2008.
Total sales for the first quarter of 2009 increased 8.5% to C$2.19 billion, compared to the first quarter of 2008. Front store sales increased 5.5% to C$1.11 billion, compared to the first quarter of 2008.
The company’s prescription sales increased 11.7% in the first quarter of 2009 to C$1.09 billion, accounting for 49.5% of the company’s sales mix, compared to 48% in the first quarter of 2008. Front store sales increased 5.5% in the first quarter to $1.109 billion.
Jurgen Schreiber, president and CEO of Shoppers Drug Mart, said: We are pleased with our first quarter results, particularly in the context of these challenging economic times. Against this backdrop we remain cautious in our outlook for the balance of 2009, but confident in our ability to deliver continued growth in sales and net earnings.
Shoppers Drug Mart is a licensor of full-service retail drug stores operating under the name Shoppers Drug Mart and Pharmaprix in Québec. The Company also licenses or owns more than 30 medical clinic pharmacies operating under the name Shoppers Simply Pharmacy and Pharmaprix Simplement Santé in Québec and two luxury beauty destinations operating as Murale.