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Article: Entrepreneurial spirit key to SDM success. (Shoppers Drug Mart Ltd.)(1995 CDR State of the Industry Report)
- Article from:
- Chain Drug Review
- Article date:
- May 1, 1995
CopyrightCOPYRIGHT 1995 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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WILLOWDALE, Ontario - Shoppers Drug Mart (SDM), the biggest drug chain in Canada and the ninth largest in North America, continues to thrive despite an unsettled economy and heightened competition. Retail sales advanced 1.6% to $3.23 billion (all figures are in Canadian dollars) in 1994, while operating profits at the Imasco Ltd. subsidiary edged up 2% to $102 million.
"It was a most satisfactory showing considering that price inflation was virtually nil and the competition was unprecedented," comments chairman and chief executive officer David Bloom.
The 694 - unit drug chain continues to expand its base of franchised outlets, which operate under the SDM and ...