Friday, April 29, 2016
Current Weather
Loading Current Weather....
Published: Thursday, 1/27/2005

Area Pharm stores pull Spartan's sales down

The 21 Pharm discount drug stores in northwest Ohio and southeast Michigan had a poor sales performance in the latest fiscal quarter, dragging down sales of its parent company, Spartan Stores Inc. of Grand Rapids.

Spartan reported earnings yesterday for the quarter ending Jan. 1 at $624 million, down from $644 million for the same period a year earlier. The decline was attributed to lower sales at the Pharm and its distribution operations.

The company said Pharm store sales were off 8.8 percent to $55.6 million for the quarter compared with the year before, primarily because of a loss in prescription-drug business from workers at local auto plants whose health-care coverage requires more prescriptions be filled through a mail-order firm.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.