Special Reports

Jean Coutu Group

Published

19 years ago

January 27, 2005

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The Jean Coutu Group Inc. (Longueuil, Que.) reported a revenues growth of 256 percent during the second quarter ending Nov. 27, 2004.

Canada’s leading drugstore chain, which bought the Eckerd Drug chain from J.C. Penney Co. (Plano, Texas) last year, said it has made “good progress” this year.

“We are pleased with the growth of our existing operations while the integration of the Eckerd drugstore network is on schedule,” said president and ceo Francois Coutu. “The second quarter results of our Canadian and American operations were satisfactory. We completed the first full quarter of operations of the Eckerd drugstores while having to bear the costs of running several head office infrastructures during the integration. The Brooks-Eckerd network is now in operational and selling mode. We are now in a position to begin to capture the Eckerd integration cost savings while we continue to improve the performance of our U.S. network of drugstores. At the same time we will continue to build on the strong base of our Canadian network.”

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