TERRYWHITE Chemmart (TWC) is aiming to expand its network to more than 500 stores over the next 12 months, from its current 450 pharmacies.
Outlining the group's strategy for the coming year, TWC CEO, Duncan Phillips, said the it was "committed to seeing TWC grow".
"We have carved out a significant growth trajectory adding 16 new stores to the network over the last six months, so the capacity for further growth is already there," he said.
As part of its new "TWC Plus" strategy, the group has launched a "performance promise" for any pharmacy that joins the network between now and the end of 2020, which offers to refund the store's member fees if the business does not improve under the TWC brand.
However, Phillips said he was confident TWC would not be providing any refunds.
"The results across our pharmacies in the TWC network are outperforming the market, and most recent stores who have joined the brand are already seeing the benefit, with customer numbers growing close to 5% and gross profit dollars lifting over 6%," he said.
"When you combine these results with our brand fees which, compared with other major pharmacy groups, are significantly lower and far more reasonable, we have an attractive brand offer that promises to deliver on performance.
"In the three years since TWC came to market, the brand is in the strongest position it's ever been in, with further positive growth to come, in spite of a challenging retail and pharmacy marketplace."
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