Posted at 1:40 p.m., Wednesday, February 28, 2007
Longs Drug reports 24% drop in quarterly profits
Advertiser Staff
Longs Drug Stores Corp., the Walnut Creek, California-based company that's the largest drug store operator in Hawai'i, said net income fell to $26.9 million in the three months ended Jan. 25 as it took an after-tax charge related to the disposition of 31 stores.The company said it had income of $35.4 million in the similar period a year before.
The company said it also plans to open or relocate 25 to 30 stores this fiscal year, along with remodeling 40 locations. The company operates 509 stores on the West Coast and Hawai'i.
