Neighbourhood store boost
May 7, 2012
TERRY White Chemists is
expanding its reach into more
neighbourhood and community
sites, with its plan to roll out 75 to
80 small format stores outside of
the traditional shopping centre
format.
“We are trying to bring healthcare
solutions and support into the
neighbourhoods and community,”
said Terry White Chief Executive,
Anthony White.
The roll out is expected to occur
over the next three years, and will
see the pharmacy giant expand its
current 160 store holding by more
than a third.
The community stores will be
smaller in size than their shopping
centre brethren (usually around
330 square metres), due to the size
restrictions usually present in
community settings, and will each
measure around 220 square
metres.
The plan has so far seen the
pharmacy chain sign contracts for
seven new neighbourhood sites
across the nation and open one
new smaller store in Victoria this
week.
Apart from reaching more
community customers, White said
that the smaller store decision is
also a fiscal move.
“We are now operating in a quasi
global market, with rents in
Australia nearly 10 times the US
equivalent,” White said.
“It’s also harder for pharmacists
to access credit,” he added.
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