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Longs Drug Stores Inc

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BUSINESS
August 18, 2001
* Longs Drug Stores Corp. is acquiring the stake of RxAmerica that it doesn't already own from Albertson's Inc. under undisclosed terms.
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BUSINESS
October 9, 2008 | From the Associated Press
Drugstore chain Walgreen Co. has withdrawn its $2.8-billion bid to acquire Longs Drug Stores, apparently helping to ease the path for Longs' $2.7-billion acquisition by CVS Caremark Corp. Longs had already accepted CVS Caremark's lower bid of $71.50 a share, a deal approved by antitrust regulators. Walgreen Chief Executive Jeffrey Rein sent a letter to Longs' board of directors informing it of Walgreen's decision to withdraw its bid.
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BUSINESS
December 29, 2001 | Bloomberg News
Longs Drug Stores Corp. shareholder Ariel Capital Management Inc., which had been selling shares in the drugstore chain, raised its holdings to 10.6% from 9.4% reported in September. Ariel Capital reported buying shares between Oct. 29 and Dec. 27 with prices ranging between $21.11 and $23.80, according to a filing with the Securities and Exchange Commission. Ariel now holds about 4 million shares, up from the 3.5 million shares held as of September.
BUSINESS
August 16, 2007 | From Times Wire Services
Drugstore operator Longs Drug Stores Corp. said its fiscal second-quarter earnings rose 40%, helped by higher retail and pharmacy-benefit services revenue. Profit rose to $26.6 million, or 69 cents a share, from $19 million, or 50 cents, in the same period last year. Revenue rose 3% to $1.27 billion. Analysts polled by Thomson Financial had expected a profit of 63 cents a share on revenue of $1.29 billion.
BUSINESS
July 7, 2001 | From Bloomberg News
Longs Drug Stores Corp. said its fiscal second-quarter earnings will fall more than forecast as job cuts and higher energy costs led shoppers to curb spending in California, where the company operates more than 350 of its 425 stores. Profit in the quarter ending July 26 will be 28 to 30 cents a share, compared with 46 cents a year earlier, the company said. Analysts' average estimate was 36 cents, according to First Call/Thomson Financial. Same-store sales will rise 4.
BUSINESS
August 16, 2007 | From Times Wire Services
Drugstore operator Longs Drug Stores Corp. said its fiscal second-quarter earnings rose 40%, helped by higher retail and pharmacy-benefit services revenue. Profit rose to $26.6 million, or 69 cents a share, from $19 million, or 50 cents, in the same period last year. Revenue rose 3% to $1.27 billion. Analysts polled by Thomson Financial had expected a profit of 63 cents a share on revenue of $1.29 billion.
BUSINESS
July 7, 1998 | Bloomberg News
Longs Drug Stores Corp., the sixth-largest U.S. drugstore chain, agreed to buy 20-store chain Western Drug Distributors Inc. for an undisclosed price to expand in the Pacific Northwest. Closely held Bellevue, Wash.-based Western Drug operates franchises of Powell, Ohio-based Drug Emporium Inc. under the name Drug Emporium in Washington and Oregon. After the acquisition, expected to be completed this month, Longs will have 373 stores.
BUSINESS
March 5, 1998 | From Bloomberg News
Longs Drug Stores Corp. plans to buy closely held Western Drug Distributors Inc., a chain of 20 drugstores, for an undisclosed price, to expand into the Pacific Northwest. Western Drug, based in Bellevue, Wash., operates stores in Washington and Oregon under the Drug Emporium name. It is a franchisee of Drug Emporium Inc. Longs operates 350 drugstores in California, Colorado, Hawaii and Nevada and had 1997 sales of $2.95 billion.
BUSINESS
November 18, 1998 | From Times Wire Services
Home Depot Inc., Dayton Hudson Corp. and other retailers reported strong profit gains for the third quarter as the economy boosted sales of everything from paint and other household goods to casual clothes. Home Depot, the biggest U.S. retailer of home improvement supplies, said its net income increased 31% to $392 million, or 20 cents a share, a penny higher than expected. Revenue surged 24% to $7.7 billion as strong housing sales fueled demand for its home and building supplies.
BUSINESS
March 3, 2005 | From Associated Press
Longs Drug Stores Corp., a drugstore chain in the Western United States and Hawaii, said Wednesday that fiscal fourth-quarter earnings increased 32%, and announced plans to change the way it accounts for certain leases, possibly restating results. Net income rose to $17.7 million, or 47 cents a share, in the quarter ended Jan. 27, compared with $13.4 million, or 36 cents, a year earlier. Sales of $1.2 billion were 2% lower than the $1.23 billion posted a year earlier.
BUSINESS
March 2, 2007 | From the Associated Press
The pharmacy chain Longs Drug Stores Corp. will close 31 stores in four Western states this year while opening or moving as many as 30 other stores and remodeling 40 more. The closures will eliminate the drugstore operator's presence in Colorado, Washington and Oregon, where the company has 23 stores. California will lose eight locations. The Walnut Creek, Calif.
BUSINESS
November 16, 2006 | From the Associated Press
Longs Drug Stores Corp. said third-quarter profit surged 42% on a 9.7% increase in revenue. Walnut Creek, Calif.-based Longs earned $12.7 million, or 33 cents a share, compared with $8.9 million, or 23 cents, a year earlier. Revenue rose to $1.23 billion from $1.12 billion. Longs executives attributed the increase primarily to the progress on new prescription drug plans for Medicare beneficiaries offered by RxAmerica.
BUSINESS
May 18, 2006 | From the Associated Press
Pharmacy operator Longs Drug Stores Corp. said first-quarter profit beat estimates on higher sales through new Medicare prescription drug plans. The Walnut Creek, Calif.-based company posted first-quarter net income of $15.8 million, or 41 cents a share, compared with $12.8 million, or 34 cents, a year earlier. Analysts polled by Thomson Financial had forecast earnings of 35 cents a share. Revenue rose 9.5% to $1.26 billion. Retail drugstore sales were $1.17 billion, 2.
BUSINESS
August 18, 2005 | From Reuters
Longs Drug Stores Corp. posted higher second-quarter profit and raised its profit forecast for the year because of an adjustment in the company's self-insurance reserves and lower costs. The Walnut Creek-based drug-store chain raised its profit outlook for the full year to $1.39 to $1.49 a share. It previously had forecast earnings of $1.30 to $1.40 a share. For the third quarter, Longs expects net income of 17 cents to 23 cents a share. Profit in the second quarter ended July 28 rose to $16.
BUSINESS
March 3, 2005 | From Associated Press
Longs Drug Stores Corp., a drugstore chain in the Western United States and Hawaii, said Wednesday that fiscal fourth-quarter earnings increased 32%, and announced plans to change the way it accounts for certain leases, possibly restating results. Net income rose to $17.7 million, or 47 cents a share, in the quarter ended Jan. 27, compared with $13.4 million, or 36 cents, a year earlier. Sales of $1.2 billion were 2% lower than the $1.23 billion posted a year earlier.
BUSINESS
November 18, 2004
* Long's Drug Stores Corp.'s third-quarter net income rose 19% to $6.2 million, or 17 cents a share, from a year earlier. Sales at the Walnut Creek, Calif., company rose to $1.1 billion from $1.09 billion.
BUSINESS
May 21, 2002 | A Times Staff Writer
Longs Drug Stores Corp. reported a 5% decline in fiscal fourth- quarter earnings to $11 million, or 29 cents a share, a penny better than analysts expected. The drugstore operator said sales grew 5.6% to $1.09 billion, with sales at stores open at least a year up 4.3%. Same-store pharmacy sales grew 8.5%, while front-end store sales rose 1%, reversing a one-year negative trend.
BUSINESS
May 20, 2004 | From Reuters
Longs Drug Stores Corp. posted a 59% jump in quarterly profit to $9.2 million, or 25 cents a share. That compared with $5.8 million, or 16 cents, a year earlier, when net income included an after-tax charge. Total sales rose 5.1% to $1.16 billion. Sales at stores open at least a year increased 2.7%. Shares of the Walnut Creek, Calif.-based operator of 470 drugstores rose 20 cents to $20.50 on the NYSE.
BUSINESS
May 20, 2004 | From Reuters
Longs Drug Stores Corp. posted a 59% jump in quarterly profit to $9.2 million, or 25 cents a share. That compared with $5.8 million, or 16 cents, a year earlier, when net income included an after-tax charge. Total sales rose 5.1% to $1.16 billion. Sales at stores open at least a year increased 2.7%. Shares of the Walnut Creek, Calif.-based operator of 470 drugstores rose 20 cents to $20.50 on the NYSE.
BUSINESS
May 20, 2003 | From Bloomberg News
Longs Drug Stores Corp., which operates 461 stores in the Western U.S., said it had a fiscal first-quarter profit of $5.83 million as sales rose. The retailer lowered its full-year earnings and revenue forecasts. Net income was 16 cents a share, contrasted with a loss of $13.7 million, or 36 cents, a year earlier, the company said. Sales in the three months ended May 1 rose to $1.1 billion from $1.09 billion. A year earlier, Longs had costs to write down the value of store acquisitions.
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