Retail Drug Store Chain Cuts Back to Grow Profit
A $900 million retail drug store chain was under-staffed and under-skilled in its financial management area. Therefore, executive management did not have necessary information to understand the economics of its business or to make good decisions, and the performance of the company was suffering. Manchester’s professionals provided interim financial management services that identified the strong and weak financial points of the organization, which led executive management to close under-performing stores. As a result, the chain now has fewer stores, but is operating profitability.