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Article: Sales pass $500 mil. for Medicine Shoppe. (Medicine Shoppe International)(State of the Industry Special Report)
- Article from:
- Chain Drug Review
- Article date:
- April 22, 1991
CopyrightCOPYRIGHT 1991 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sales pass $500 mil. for Medicine Shoppe
ST. LOUIS--By adhering to its strategy of bringing independent drug stores into the fold and concentrating on prescription sales, Medicine Shoppe International pushed its 1990 sales over the $500 million mark, for an 18.5% increase over fiscal 1989 results. Same-store growth also rose, jumping 13.7% over the previous year's performance. The company, which had 870 stores by the end of fiscal 1990, says that 104 of its franchise outlets surpassed the $1 million level and five exceeded $2 million. Average sales for stores more than two years old reached $661,000. There were 53 net store openings during the fiscal year, versus ...