Walnut Creek, Calif.-based Longs Drug Stores posted...

Walnut Creek, Calif.-based Longs Drug Stores posted a 29% increase in profit and a 12% rise in sales for the fourth quarter ended Jan. 29. For the year, net income was up 2%.Improvement was credited to higher gross margins and sales increases. In addition, the quarter and year’s results include a provision of $1.25 million for the closing of marginal stores.