Longs Drug Stores same-store sales dip in August

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.