Superdrug has announced plans to invest in 25 new stores this year which will create over 570 jobs.
The investment, part of the brand’s O+O (Online + Offline) platform strategy to deliver its omnichannel ambitions, follows good performance figures. Superdrug revealed that in the last quarter of 2022, it saw increased volume and value sales and footfall across both sides of the beauty and health business. In 2021, the retailer’s revenue rose 5.1% to £1.17bn with a pre-tax profit increase of 141.3%.
This year’s investment strategy has already seen Superdrug open new stores in Washington Gallery and Falkirk Retail Parks in February and in Braehead, the largest Superdrug in Scotland, last month. A further three stores will open soon in Dublin Dundrum, Manchester Trafford Centre and London Brent Cross, with more stores in the pipeline for later this year.
Superdrug stated that the new stores will focus on “enhancing the physical shopping experience”, offering a range of Beauty Studio treatments and access to essential healthcare services through Pharmacies and Nurse Clinics.
In addition, Superdrug plans to refit 70 stores during 2023 as part of a modernisation programme that includes new shop fronts, recyclable signage, improved flooring and ceiling tiles, energy-efficient LED lighting, new floor layouts and upgraded fascia and internal signage. This follows a large-scale rollout of new cosmetics stands in 2021.
Superdrug’s Chief Executive, Peter Macnab, commented: “Recent years have seen seismic changes in our sector, and constantly evolving customer expectations. An investment of this scale demonstrates our resilience in the face of continuing social and economic challenges, but also our confidence and commitment to our customers and communities.”
Superdrug’s Property Director, Nigel Duxbury, added: “High streets and retail parks are the beating heart of our communities and an essential part of our economy. Our investment in bricks and mortar will help us continue to stretch, shape, and deliver for our customers in the future, as well as helping transform communities into vibrant places to live, work and shop.”
NAM Implications:
- Given 3 years of Lockdown fallout…
- …wise to fine tune your strategies for surviving customers.
- Even more important re those that are growing profitability.
- Therefore important to factor these Superdrug plans…
- …into your prep for the inevitable negotiations that will accompany this expansion.
