Shoppers Drug Mart Posts Drop In Q3 Profit

Shoppers Drug Mart

reported a drop in its third-quarter net income. Shoppers Drug Mart's quarterly net income declined to C$165.8 million ($158.33 million), or 83 Canadian cents a share, versus C$167.7 million, or 81 Canadian cents a share, in the year-ago period. Excluding special items, it earned 88 Canadian cents a share, versus analysts' estiamtes of 81 Canadian cents a share. Its sales climbed 2.4% to C$3.29 billion, while sales at established stores rose 2.2%.