Pharmacy Chain 36.6 looks to private label after strong Q1

Pharmacy Chain 36.6 has reported group consolidated sales reached RUB5.35 billion (USD188 million) for the first quarter of 2011, an increase of 17.8%. Pharmacy retail sales reached RUB3.71 billion (USD131 million), up by 8.6%. Like-for-like sales growth reached 19.3% and like-for-like average check growth was 22%.

Private label sales grew 40%, with the share of sales reaching 9.97% (compared to 8.44% in Q4 2009). The company anticipates that a «favourable market environment, increasing demand for private label goods together with the launch of new products will contribute significantly to the retail profitability in the current year.»

As of the end of Q1, the company operated 990 stores in 29 regions of Russia, as six stores were opened organically and five were closed. Pharmacy Chain 36.6 also operated 10 stand-alone optical outlets, 20 additional optical departments within pharmacies and 19 Early Learning Center stores.

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