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Citing a "maturing" of its concept, the Jean Coutu Group's Canadian operationPharmacies Jean Coutu-continued to focus its energies over the past year on revitalizing its network of franchised units. It's part of a wider development plan calling for relocation and renovations, improved service and an emphasis on management information technology.
So far, the strategy to shift gears from what was once a more aggressive, expansion-oriented company to concentrate on upgrading existing holdings is playing out well for Pharmacies Jean Coutu, which has an estimated 40 percent market share in the Quebec drug store market.
For the first half of its 2000-2001 fiscal year, which ended Nov. 30, sales from 252 franchised units and 40 PJC clinic pharmacies jumped 10.3 percent to (Canadian) $1 billion. Revenues for the company, including the 249 Brooks stores in the United States, rose 13 percent to almost $1.4 billion.
While some of this growth is credited to Brooks' performance, president and chief operating officer Francois-Jean Coutu credited improved...