Shoppers Drug Mart Corporation Reports Strong Fourth Quarter Results

In fiscal 2013, the Company plans to allocate approximately $275 million to its base capital expenditure program, with approximately 70% of this amount to be invested in the store network.  In addition to renovations and enhancements to existing stores, the Company's store network investment program for fiscal 2013 includes the addition of between 30 and 35 new drug stores, approximately half of which will be relocations, and the completion of between 15 and 20 major drug store expansions.  This activity should result in an increase in retail selling square footage of approximately 3.0%.  The balance of the Company's capital expenditures will be directed to investments in supporting infrastructure, including information technology and supply chain.  Incremental to its base capital expenditure plans, the Company will continue to pursue attractive opportunities in the marketplace to acquire drug stores and prescription files.

2012 Annual Report

The Company's audited consolidated financial statements and the notes thereto for the year ended December 29, 2012 will be available on or before March 27, 2013.  Management's Discussion and Analysis for the year ended December 29, 2012, including further discussion and analysis of fourth quarter events or items that affected results of operations, financial position and cash flows, will also be available on or before March 27, 2013.  Both documents will be contained in the Company's 2012 Annual Report and will be available in the Investor Relations section of the Company's website at www.shoppersdrugmart.ca, or on the Canadian Securities Administrators' website at www.sedar.com.

Other Information

The Company will hold an analyst call at 3:00 p.m. (Eastern Standard Time) today to discuss its fourth quarter results and its outlook for fiscal 2013.  The call may be accessed by dialing 416-695-7806 from within the Toronto area, or 1-888-789-9572 outside of Toronto.  The seven-digit participant pass code number is 8845571.  The call will also be simulcast on the Company's website for all interested parties.  The webcast can be accessed via the Investor Relations section of the Shoppers Drug Mart website at www.shoppersdrugmart.ca.  The conference call will be archived in the Investor Relations section of the Shoppers Drug Mart website until the Company's next analyst call.  A playback of the call will also be available by telephone until 11:59 p.m. (Eastern Standard Time) on February 21, 2013.  The call playback can be accessed after 5:00 p.m. (Eastern Standard Time) on Thursday, February 7, 2013 by dialing 905-694-9451 from within the Toronto area, or 1-800-408-3053 outside of Toronto.  The seven-digit pass code number is 1102811.

About Shoppers Drug Mart Corporation

Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing.  The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec).  With more than 1,240 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in each province and two territories, the Company is one of the most convenient retailers in Canada.  The Company also licenses or owns 55 medical clinic pharmacies operating under the name Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec) and six luxury beauty destinations operating as Murale.  As well, the Company owns and operates 62 Shoppers Home Health Care stores, making it the largest Canadian retailer of home health care products and services.  In addition to its retail store network, the Company owns Shoppers Drug Mart Specialty Health Network Inc., a provider of specialty drug distribution, pharmacy and comprehensive patient support services, and MediSystem Technologies Inc., a provider of pharmaceutical products and services to long-term care facilities.

For more information, visit www.shoppersdrugmart.ca.

Forward-looking Information and Statements

This news release contains forward-looking information and statements which constitute "forward-looking information" under Canadian securities law and which may be material, regarding, among other things, the Company's beliefs, plans, objectives, estimates, intentions and expectations.  Forward-looking information and statements are typically identified by words such as "anticipate", "believe", "expect", "estimate", "forecast", "goal", "intend", "plan", "will", "may", "should", "could" and similar expressions.  Specific forward-looking information in this news release includes, but is not limited to, statements with respect to the Company's future operating and financial results, its capital expenditure plans, its dividend and shareholder distribution policies and the ability to execute on its future operating, investing and financing strategies.

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