Shoppers Drug Mart generates Q1 pharmacy same-store sales growth of 1.3%

BRAMPTON, Ontario — Loblaw on Wednesday posted retail segment sales of $7.4 billion, up 0.1%, for the first quarter ended March 25, 2017.



"We continued to invest to deliver value to consumers," stated Galen Weston, chairman and CEO, Loblaw. "We are pleased with our performance in the first quarter, against a highly competitive food retail environment and despite the pressures of deflation and healthcare reform."



The company's retail pharmacy banner Shoppers Drug Mart generated same-store sales growth of 0.9%, with pharmacy same-store sales growth of 1.3% and front store same-store sales growth of 0.6%. Excluding the unfavourable impacts of the timing of New Year's Day and Easter, Drug retail same-store sales growth was approximately 2.5%, with pharmacy same-store sales growth of approximately 1.4% and front store same-store sales growth of approximately 3.6%.



All told, 28 food and drug stores were opened and 29 food and drug stores were closed in the last 12 months, resulting in a net increase in retail square footage of 0.3 million square feet, or 0.4%, Loblaw reported.