Shoppers Drug Mart profit edges higher

Thu Apr 26, 2012 12:07pm EDT
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(Reuters) - Shoppers Drug Mart Corp SC.TO, Canada's biggest pharmacy chain, reported a modest gain in quarterly profit on Thursday, reflecting stronger front-of-store sales.

The company reported net income for the quarter ended March 24 of C$119 million ($120 million), or 56 Canadian cents a share, up from C$118 million, or 54 Canadian cents, in the same quarter last year.

Sales rose 2 percent to C$2.39 billion. Sales at established stores, a key measure for retailers, rose 1.5 percent.

(Reporting By Susan Taylor; Editing by Peter Galloway)