Brazilian drugstore operator RaiaDrogasil has reported an 11.8% rise in gross revenues for the first quarter of 2013, during which period it opened 36 new stores: "an all-time record for a first quarter."
Consolidating leadership in midwest
The majority of new stores were acquired from Drogaria Santa Marta in the state of Goiás. Eleven of the stores were rebranded Droga Raia, launching the fascia in the midwestern region and allowing RaiaDrogasil to consolidate its leadership in the region.
Further market share gains
RaiaDrogasil said it recorded an annual increase of 0.2 percentage points of market share, reaching 8.8% in March, with strong gains in Santa Catarina, Espírito Santo, Goiás and Rio de Janeiro.
Expects improved growth in Q2
A negative calendar effect, tough comparatives with Q1 2012 and poor weather affected growth in the first quarter. Same-store sales were up 5.2% for the quarter and growth in mature stores (open for 3+ years) was 2.2%. RaiaDrogasil expects growth in the second quarter to get closer to historical levels, due to lower comparatives from the second to fourth quarters last year. Its customer base, of primarily affluent consumers, should also serve it well.