News

Shoppers Drug Mart posts Q1 results

BY Antoinette Alexander

TORONTO — Canadian pharmacy retailer Shoppers Drug Mart announced on Thursday a boost in first-quarter sales and earnings, driven, in part, by gains at the front end.

“We are encouraged by our first-quarter operating and financial results. This is a solid performance and a good start to the year in what remains a challenging economic and regulatory environment,” stated Domenic Pilla, president and CEO. “Together with our associate owners and their teams at store level, we continue to work through the impact of regulatory reforms on our business, while never comprising on our commitment to providing the best in patient care and customer service.”

First-quarter sales totaled C$2.39 billion, up 2% compared with the year-ago period. Same-store sales rose 1.5%.

Pharmacy sales were C$1.17 billion in the first quarter, an increase of 1.6% compared with the same period last year, as growth in the number of prescriptions filled continues to be partially offset by a reduction in average prescription value. On a same-store basis, prescription sales rose 1.1% during the quarter.

The company stated that the decrease in average prescription value can be largely attributed to a reduction in generic prescription reimbursement rates, the result of recently implemented and ongoing drug system reform initiatives in certain jurisdictions of Canada, along with increasing generic prescription utilization rates.

At the front end, sales were C$1.23 billion, up 2.5%. The increase was led by strong sales gains in cosmetics and convenience categories, notably food and confection. Shoppers noted that its store network development program, which resulted in a 4.2% increase in selling space compared with a year ago, also was a contributing factor to sales growth in the front of the store. Front-end same-store sales increased 2%.

Net earnings for the quarter totaled C$119 million compared with C$118 million in the year-ago period. On a fully diluted basis, net earnings per share were 56 Canadian cents, compared with 54 Canadian cents in the year-ago period.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Walmart becomes first-ever retailer to launch online ‘pay with cash’ option

BY Katherine Field Boccaccio

BENTONVILLE, Ark. — Walmart has launched a "pay with cash" service that offers cash payment options for online orders at Walmart.com in the United States.

Walmart is the first major retailer to offer online purchases without the need for banking services or a credit, debit or prepaid card.

The retailer said that the majority of its in-store transactions are paid in cash or cash equivalent, including debit cards, with just 15% of transactions paid in credit. The "pay with cash" program will allow the same payment options online, which is expected to appeal to the retailer’s customer base.

To use the option, a shopper places an order on Walmart.com and, during checkout, selects the "cash" option and a shipping preference. The customer immediately receives an order number on the order confirmation page and an email receipt with the order number. The item is reserved in the system.

The customer has 48 hours to take the printed order form to any cash register of any Walmart store or Neighborhood Market.

Once cash payment is completed in the store and received, shipping then occurs via "Site to Store" or to a preferred address.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Terminix AllClear line expands to include new lantern

BY Allison Cerra

DALLAS — Universal Pest Solutions has introduced its latest Terminix AllClear mosquito solutions product.

The Terminix AllClear mosquito mister lantern is designed to protect areas up to 300 sq. ft. by automatically misting Naturals, an all-natural concentrate of geraniol — a botanical extract of a lemongrass plant — known for its effective insect repelling power, the company said. The Naturals formula is nontoxic, free of synthetic chemicals and residues and also is safe for use around children, pets, food and the environment.

The Terminix AllClear mosquito mister lantern with Naturals comes with four AA batteries, a hanging loop and optional wall mount, as well as a 12-oz. canister of Naturals, which provides up to 10 hours of protection. The lantern carries a suggested retail price of $79.99 and Naturals refills carry a suggested retail price of $7.99.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES