Friday, August 3, 2007

Jean Coutu reports fourth-quarter loss

(Reuters) - TORONTO, Aug 3 - Canadian drug store chain Jean Coutu Group reported a loss for its fourth quarter on Friday as charges related to the sale of its U.S. network to Rite Aid Corp. hurt results. The company said it had a loss of $6.9 million, or 3 cents a share, in the quarter. That is down from a profit of $30.3 million, or 12 cents a share, in the same period last year.



Jean Coutu closed the sale of its U.S. Brooks and Eckerd chains to Rite Aid in early June for $2.36 billion in cash and and 250 million shares of Rite Aid.


Read more at Reuters.com Market News

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