Longs Drug Stores April same-store sales fall 0.5 percent

WALNUT CREEK, Calif.—Pharmacy chain Longs Drug Stores Corp. said Thursday its same-store sales in April fell 1.5 percent due to the Easter holiday coming in March, missing analyst expectations

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing locations rather than newly opened ones.

The company said its pharmacy same-store sales fell 0.5 percent while front-end sales dropped 2.4 percent

Analysts polled by Thomson Financial sales boost of 0.5 percent for the month, with pharmacy sales rising 2.2 percent and front-end sales declining 1.4 percent.

For the four-week period ended May 1, total retail drug store sales from continuing operations rose 0.4 percent to $366 million.

Shares of Longs closed up 62 cents to $43.70.

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