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Article: Net income up 11% at Medicine Shoppe. (Medicine Shoppe International Inc.)
- Article from:
- Chain Drug Review
- Article date:
- August 16, 1993
CopyrightCOPYRIGHT 1993 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ST. LOUIS--Medicine Shoppe International rang up double-digit top- and bottom-line gains during its third quarter, ended June 30.
The franchisor of apothecary-style drug stores posted an 11% increase in net income to $3.34 million from $3.01 million a year earlier on a 10.8% revenue rise to $11.3 million from $10.2 million.
Continuing a trend, systemwide retail sales continue to slow from Medicine Shoppe's historic levels. Volume at the 960-unit chain grew 8.7% to $193.3 million from $177.8 million. Quarterly same-store sales were not disclosed. It should be noted, however, that the most recent quarter was measured against a strong period a year ago.
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