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Monday, November 16, 2009
BOOTS, the British healthcare and beauty retail giant, is aiming to nearly double the number of stores it operates in Ireland over the next three years and is looking to boost its pharmacy operations via acquisition.
The company currently has 55 stores in the Republic and later this week it opens its latest – and second-largest – on Cork’s Half Moon Street in a development described by Boots Ireland director Rhys Iley as the best-looking Boots store anywhere.
The new store officially opens on Thursday and in terms of the Irish portfolio is smaller only than the Boots outlet in Liffey Valley.
It also takes Boots’ tally of Cork stores to five. The other two city centre outlets – in Patrick Street and Merchant’s Quay Shopping Centre – will remain trading and no jobs will be lost.
Indeed, 100 jobs are being created immediately through the new opening.
"We see Ireland as being a growth opportunity for us, even though the current trading environment is tough. We’re bringing on 150 jobs here this year and job security is one of the biggest things we can offer right now, as behind construction, the retail industry has been the hardest hit in terms of job losses," commented Mr Iley.
Although Boots Ireland is anticipating a single-figure percentage decline in revenue this year and a "very challenging" Christmas trading period, Mr Iley added that Boots’ investment in Ireland is a long-term strategy.
In the last three years, Boots’ Irish store portfolio has grown in number from 36 to 55.
Mr Iley said that while the recession had put back the company’s growth schedule here by about a year and a half, it is still committed to growing to over 100 stores within the next three years. That growth will cover increasing Boots presence in major conurbations including Dublin, Galway and Limerick and re-focusing on pharmacy services.
This will see it grow over the next two years through the acquisition of existing pharmacy operators, rather than via new builds.
Mr Iley said that although no acquisition targets had yet been identified, the company is always on the look-out for opportunities.
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