Jean Coutu 4Q Full-Year Sales Up
Longueuil, Quebec, The Jean Coutu Group reported that fourth quarter total revenues were up by 254% to $2.77 billion, while full-year total revenues were up 216% to $9.62 billion. This was primarily attributed to the addition of Eckerd drug store operations.
For the fourth quarter, net earnings were $46.2 million, or 18 cents a share, compared with $32.6 million, or 14 cents per share, for the fourth quarter of the prior fiscal year. Fiscal 2005 net earnings were $104.4 million, or 41 cents a share, compared with $132.7 million, or 58 cents per share in fiscal 2004.
Fourth quarter U.S. retail same-store sales rose by 3.1%, pharmacy sales gained 3.8% and front-end sales picked up 1.6%, compared with the same quarter last year.
Ahold Acquires Czech Supermarkets
Zaandam, Netherlands, Ahold announced it has reached an agreement to acquire as many as 67 Julius Meinl supermarkets in the Czech Republic. The acquisition will increase Ahold’s store count in that country to about 300. The Julius Meinl stores will be rebranded as Albert, the banner under which Ahold operates its supermarkets in the Czech Republic, Slovakia and Poland.
Pantry Expands Presence in Alabama
Sanford, N.C., The Pantry has signed a definitive agreement to acquire 13 convenience stores in Alabama from Chatham Oil Company, which has been operating the stores under the Speedmart Food Stores banner. The acquisition strengthens The Pantry’s position in Alabama, where it currently operates 25 stores. The Pantry operates 1,386 stores in 11 states under a number of banners.