August 21, 2008 |
Longs Drug Stores Corp., which has agreed to be bought by CVS Caremark Corp., said fiscal second-quarter profit rose on gains at its pharmacy-benefits division. Net income for the period that ended July 31 jumped to $27.5 million, or 76 cents a share, from $26.6 million, or 71 cents, a year earlier, Longs said. Sales increased to $1.33 billion from $1.27 billion. Shares of Longs, which is based in Walnut Creek, Calif., gained 50 cents to $72.10.
August 19, 2008 |
Longs Drug Stores Corp. recommended in a regulatory filing that shareholders approve its $2.7-billion purchase by CVS Caremark Corp. even as activist investor Bill Ackman hired a firm to explore getting a higher price.
May 22, 2008 |
Longs Drug Stores said its first-quarter profit rose 81%, as revenue rose in both its retail drug stores and pharmacy benefit services divisions, and the company spent less shutting down underperforming stores. For the three months ended May 1, the Walnut Creek, Calif.-based drug store chain earned $23.5 million, or 65 cents a share, compared with $13 million, or 34 cents, a year earlier. Last year's results reflected more than $9 million spent on store closings and asset impairments.
September 13, 2008 |
Drugstore giant Walgreen Co. launched a surprise, $3-billion bid Friday night for Longs Drug Stores Corp., hoping a $75-per-share offer is enough to take the West Coast chain away from CVS Caremark Corp. Deerfield, Ill.-based Walgreen said in a statement that buying Longs would strengthen its presence in fast-growing markets and broaden its exposure in the "highly attractive" Hawaii market. "We believe the combination of Walgreens and Longs is a highly compelling transaction that is superior to the pending transaction with CVS Caremark, accelerates Walgreen's expansion into high-growth markets and delivers meaningful cost synergies," Walgreen Chief Executive Jeffrey Rein said in a statement.
August 16, 2008
'My son likes a pancake syrup that is carried locally by a Longs Drug store. My guess is that in the future I'll have to ask some store to special order it for me because CVS won't carry it. Bigger is better only for the owners.' -- Warren Cereghino, Pacific Palisades, on Wednesday's story about CVS Caremark Corp.'s $2.6-billion bid to buy Longs Drug Stores Corp.
November 21, 1998
Regarding Larry Stewart's Nov. 13 column, I haven't found one person who thinks Channel 7 didn't make the right decision in bringing in Bill Weir. He is a funny writer, shows offbeat highlights and has actually added a personality to "Monday Night Live." Apparently Mr. Stewart longs for such sports innovations as "high five" or "take a hike" or the always popular "look-alikes." Now which sportscaster is corny? KEVIN FITZPATRICK, Pasadena