Unfortunately for its shareholders the Greencross Limited (ASX: GXL) share price continued its poor run on Thursday and sank to a 52-week low of $5.24.
This brought its year-to-date decline to over 23%.
Why have its shares sunk lower this year?
Although Greencross is well-known for its veterinary business, its retail operations account for almost 62% of its total revenue.
And like many retail shares, Greencross has come under pressure this year due to a downbeat consumer backdrop and concerns over the impact that Amazon's arrival in Australia will have on its retail business.
But the company is prepared for the retail behemoth and has worked hard to bring consumers into its stores through several initiatives.
One such initiative is the rollout of in-store clinics. In FY 2017 Greencross added 20 in-store clinics to its network, bringing the total to 37. Management plans to add another 20 in FY 2018, and ultimately aims to have them in 60% of its retail stores in the future.
Here's why one Motley Fool contributor thinks Greencross is a buy.
