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LONGUEUIL, Quebec - Late last month, the Jean Coutu Group, which operates Brooks Pharmacy in the United States, announced an increase in 2004 fiscal year sales and profits. But what analysts really wanted to talk about was what the chain has planned for its new 1,549 Eckerd locations.
With the acquisition of Eckerd from J.C. Penney now more than 30 days old, the Jean Coutu Group stated that its integration of Eckerd is ahead of schedule, and customers will begin to see some changes as early as this month.
"In the last two weeks, [have already been, in six or seven markets, and I have seen over 90 or 100 [Eckerd] stores, and Bill Welsh [chief operating officer] has already seen close to the same amount of stores. The only thing we are seeing right now is opportunity," Michel Coutu, president and chief executive officer of Jean Coutu Group USA, told analysts during the Aug. 20 conference call.
Jean Coutu already has started its advertising program at Eckerd and...