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Shoppers Drug Mart tallies 2Q sales gains

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BRAMPTON, Ontario — Second-quarter sales edged up at Shoppers Drug Mart as the retailer posted revenue gains in both the front-end and pharmacy segments.

Parent Loblaw Cos. said Wednesday that for the 2017 second quarter ended June 17, Shoppers Drug Mart’s sales totaled $2.88 billion (Canadian) up 3.9% from $2.78 billion a year earlier. Revenue rose by 3.7% to $1.51 billion in the front of the store and by 4% to $1.38 billion in the pharmacy.

Same-store sales for the quarter grew 3.7%, reflecting increases of 4.5% in the front end and 2.9% in the pharmacy.

Excluding the favorable impact of the timing of Easter this year, Shoppers Drug Mart’s same-store sales were up 2.9%, including growth of 2.3% in the front end and 3.5% in the pharmacy.

The drug chain’s prescription count grew 4.4% overall compared with the prior-year period. On a same-store basis, the number of prescriptions dispensed increased 3.7%, and the average prescription value declined 1.1%. Pharmacy sales were negatively impacted by one less selling day due to the Easter holiday, the company said.

Loblaw’s retail segment, including its core supermarket business, saw revenue climb 3.3% to $10.83 billion in the second quarter. Same-store sales for food retail inched up 1% year over year.

The food and drug retailer’s overall revenue for the period came in at $11.08 billion, up 3.2% versus a year ago.

“In a quarter characterized by continued price deflation, we delivered solid sales metrics and are pleased with our financial performance,” Loblaw Cos. chairman and chief executive officer Galen Weston said in a statement. “We plan to intensify our focus on cost reductions in this highly competitive market given incremental external pressures on our industry.”

Loblaw said it opened 32 food and drug stores and closed 18 food and drug stores were closed over the last 12 months. As of June 18, the company’s retail network encompassed 2,425 stores, including 1,330 Shoppers Drug Mart stores, 565 corporate-owned supermarkets and 530 franchised stores.


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