ACTIVE reviews are being undertaken of all of API's company-owned Priceline stores when they approach the end of their leases, "to ensure we have a robust and sustainable network based on the effect COVID has had on our customers' working and shopping patterns," according to API Managing Director Richard Vincent.
The information was included in a trading update yesterday, with API noting that the current and recent lockdowns in Jun and Jul caused the temporary closure of 72% of the non-pharmacy company-owned Priceline stores, as well as 75% of the Clear Skincare clinic network.
Vincent said pre-restrictions API was recording sales growth in the majority of Priceline Pharmacy stores, but "it is now clear that we need to revise our forecast to reflect the impact of the latest enforced closures [in NSW]".
He said API's earnings would be impacted by about $1 million per week of lockdown extension.
The above article was sent to subscribers in Pharmacy Daily's issue from 13 Jul 21
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 13 Jul 21
