Jean Coutu posts Q4 revenue gains of 11.7%

VARENNES, Quebec — The Jean Coutu Group on Thursday reported revenue increases of 11.7% to $579 million for the fourth quarter ended March 4.



"Our network's retail sales have grown significantly over the last 12 months," stated François Coutu, president and CEO, The Jean Coutu Group. "In the coming year, we will continue to implement our strategic plan and make every effort to continue our growth."



For the quarter, same-store sales were up 4%, with a 3.7% increase in pharmacy sales and a 4.4% lift in front-end sales. Sales of nonprescription drugs, which represented 9.1% of total retail sales, increased by 5.8%.



During fiscal year 2017, there were eight store openings in the PJC network of franchised stores, including 3 relocations, and there were 4 store closings. Also, 10 stores were significantly renovated or expanded.



As at March 4, 2017, total selling square footage of the PJC network amounted to 3.3 million square feet.