Shoppers Drug Mart has reported full-year sales for 2010 of C$10.37bn (£6.56bn), up 3.9%. The retailer’s sales continued to grow in all regions of the country, led by strong gains in Western Canada and Quebec. Its capital investment and store development programme, which resulted in a 6.4% year-on-year rise in selling space, had a positive impact. Sales rose 2.1% on like-for-like basis. Adjusted net earnings were up 2.2% to C$598m (£378.4m).
Shoppers Drug Mart expects total sales to grow 2% to 3% in 2011. In fiscal 2011, it plans to allocate C$360m (£227.7m) to capital expenditures, with about 75% of this invested in the store network.