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WALNUT CREEK, Calif. - Longs Drug Stores Corp. said Thursday that its sales at comparable stores dipped in August.
| LDG | 71.51 |  0 |
For the four weeks ended Aug. 28, same-store sales decreased 1.4 percent. Same-store sales are a key indicator of a retailer's financial health.
Longs estimated that the preliminary August pharmacy same-store sales were hurt by recent generic introductions being substituted for higher-priced brand name drugs, as well as some drugs becoming available over-the-counter.
Last month, CVS Caremark Corp. offered $2.7 billion to buy Longs.
Longs' shares rose 10 cents Thursday, closing at $71.75.
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