Duane Reade's makeover gives retailer positive outlook in Q3
NEW YORK Economic recessions cause hardship to a lot of people, but it’s also during downturns that a lot of innovative business ideas emerge.
Duane Reade's whole new look at its 14,000-sq.-ft. store in New York’s Herald Square it has begun rolling out in other stores as well. Under a sleek new branding scheme, the store implements a lot of ideas that will be familiar to shoppers from Europe and Canada, including an upgraded and expanded beauty department and such convenience features as the DR Delish private-label line of foods, which was introduced at sharp price points.
But more than giving customers a fresh new look to their shopping experience, Duane Reade’s makeover also appears to be helping its bottom line. The chain has seen net sales increase by 4.2%, to $448.9 million, compared with the same period a year ago. Keep in mind that the new look and feel has only been rolled out at about 30 of the chain's 250 New York City stores by early November, leaving room for those numbers to grow.