DESCRIPTION: Diversified regional drug chain with 170 drug stores, 2 Scoops ice cream parlors and 5 Soup'r Scoops fast-food and snack shops (Amex). PROFITS PER SHARE (FICAL YEAR ENDED JAN. 31, 1980): $0.45. Dividends: $683,450 (40 cent a share annually). FOUNDED: 1938. TOP EXECUTIVES: Milton Elsberg, president; Myron D. Gerber, chairman.
"We had a very strong rebound in our final quarter following a loss during the first half," Elsberg said. "The los was basically attributable to Active Casuals." Because of that loss, Drug Fair jhas discontinued its Active Casuals Division, which operated a chain of Wrangler Wranch retail clothing stores over the past two years. Drug Fair continued to remodel and refurbish many of its older stores. During the year 28 Drugfair stores were remodeled, bring the total to 85 stores with the company's new graphics and logo. Three new Drugfairs were opened in 1979 and the company estimates that 8 more will be opened during the 1981 fiscal year with 10 older stores scheduled for remodeling. Drugfair also embarked on an ambitious and costly program to become involved in the health care field. Working together with the Center for Consumer Health Education, Drug Fair is making literature available in all of its stores on a variety of health-related topics.