Retail News Breaks
Pharmasave passes 200 stores in Ontario
September 24th, 2013
LANGLEY, British Columbia – Pharmasave Drugs Ltd. has reached a milestone, passing the 200 mark in stores in Ontario.
The member-owned and -operated pharmacy cooperative said Monday that it has opened 60 stores in Ontario over the past two years, dramatically increasing Pharmasave's presence in the province. More than 50 other Ontario stores also were significantly renovated during that time.
Pharmasave now has 204 stores operating in Ontario, and plans call for another seven stores to open or transition to Pharmasave early next year. The company marked the 200 stores milestone this past weekend at its annual owners retreat.
Overall, British Columbia-based Pharmasave has 485 drug stores in nine provinces. It's one of North America's biggest drug chains, ranking No. 8 by store count and No. 13 by revenue, with sales of $1.27 billion (Canadian), according to Chain Drug Review's 2013 Annual Report of Retail Pharmacy.
"We’ve come a long way since opening our first store and region office in 1997," Pharmasave Ontario chief executive officer Doug Sherman said in a statement. "The retail pharmacy landscape has changed in Ontario, and our pharmacy and operations teams work expertly and diligently with our member owners so that each Pharmasave store can proudly proclaim to be the best drug store in their community."
A critical factor behind Pharmasave's growth is the customer focus of its independent pharmacies, according to Sherman.
"A key focus of our program is providing support to our members so that they may best help people with managing their medications, their health and to live well. We are confident in our proven business model, the strength of the Pharmasave brand, and as a result we look forward to continued growth in the province of Ontario," he stated.
Pharmasave is celebrating its 200 stores milestone in Ontario by offering customers a chance to win prizes. It's giving away three iPad Minis and 12 pairs of tickets to the Nov. 1st gameof the Grey Cup Champion Toronto Argonauts. Customers can enter the contest online at Pharmasave.com before Oct. 10.
A new CEO took the reins at Pharmasave Drugs Ltd. in May, with Carmen Churcott of Overwaitea Food Group joining the company to fill the vacancy created when longtime chief executive Sue Paish left to become CEO of LifeLabs Inc.
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