Content about Jean Coutu Group

NEW YORK — The Jean Coutu Group sold 72.5 million of its 178.4 million shares of Rite Aid stock, according to a Securities and Exchange Commission filing Monday and company announcement Tuesday.

The Canadian retail pharmacy group said it sold the shares for $158.5 million and would record a gain of $49.7 million in its net profit during first quarter 2014. The sale brings Jean Coutu's stake in Rite Aid down to 11.7%, the company said.

CAMP HILL, Pa. — Rite Aid reported a 2.9% increase in same-store sales for the month of April, the company said in a monthly sales report Thursday.

The boost included a 2.7% increase in front-end comps and a 3% increase in pharmacy comps, as well as a 3.8% increase in script count. Total drug store sales for the period, which ended Saturday, were nearly $2 billion, a 2.5% increase over the $1.95 billion reported in April 2011.

LONGUEUIL, Québec — Jean Coutu Group on Tuesday reported revenue of 635.2 million Canadian dollars (US $598.5 million) during the second quarter ended Aug. 27, an increase of 1.5%. Net profit per share came in at C$0.29, including a C$0.10 gain on sale of Rite Aid's shares, compared with C$0.18 during the second quarter of fiscal year 2011.

CALGARY, Alberta — The Jean Coutu Group may be only biding its time before making another go at a pharmacy operation in the United States, the Calgary Herald reported Friday, citing Jean Coutu Group chairman Jean Coutu’s recently released autobiography, written in French.

According to the report, Coutu suggested that jettisoning the Eckerd headquarters led to the early demise of the Brooks-Eckerd deal because there “weren't enough key personnel to make the merger work.”