Shoppers Drug Mart to to expand 61 stores this year, and expand 71 stores in 2010

(Source: Reuters)

Shoppers Drug Mart, Canada’s biggest pharmacy chain, intends to take advantage of weak conditions in the commercial real estate market to expand existing stores or move them to bigger premises, its chief executive said on Tuesday.

Jurgen Schreiber, the company’s president and CEO, told a retail conference in Toronto that Shoppers is expanding or relocating 61 stores this year, with another 71 stores targeted for 2010.

The company says that by yearend, only 624 of its more than 1,260 existing stores will be less than 10,000 square feet. Shoppers says its target is between 13,500 and 14,500 square feet of selling space.

Read the full article “Shoppers Drug Mart says to boost store size” in Reuters (September 22, 2009).

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