Priceline’s store numbers have increased by 27 since April 2014, with network growth from 373 to 400 outlets. Parent company Australian Pharmaceutical Industries (API) anticipates that the number will rise to 420 by the end of the financial year.

API’s core chain Priceline has spearheaded the company’s recent growth amid a 9.3 percent rise in retail store sales.

Like-for-like sales, which measures the financial contribution of new stores, is up 3.9 percent from last year.

According to Inside Retail CEO and MD of API, Stephen Roche, said Priceline’s growth lifts the franchise chain to an exclusive group of retail businesses.

“We’ve joined an elite group of specialty retailers with more than 400 stores in Australia and there are still substantial expansion possibilities for the brand as we expect to hit out financial year target of 20 net new stores in June,” Roche said.

API tags Priceline as its retail growth vehicle and the role of the pharmacy chain is to grow and provide ongoing return for shareholders.