Longs Drugs to close 31 stores in Western states
From the Associated Press
The pharmacy chain Longs Drug Stores Corp. will close 31 stores in four Western states this year while opening or moving as many as 30 other stores and remodeling 40 more.
The closures will eliminate the drugstore operator’s presence in Colorado, Washington and Oregon, where the company has 23 stores. California will lose eight locations.
The Walnut Creek, Calif.-based company also announced that Robert Long, the 68-year-old son and nephew of the company’s founders, retired from the board of directors.
Longs shares rose $4.87, or 10.6%, to $50.93.
