Boots sales up 15 per cent, company reports
Boots grew its pharmacy and retail businesses in the three months to February 28, the company has reported, with overall sales up 15 per cent.
In a statement outlining its performance in the second quarter of its financial year, Boots UK said total sales were up against the same time a year ago “despite trading headwinds from the omicron variant”. Store footfall was up 52 per cent versus the prior year quarter.
Retail sales were up 22 per cent with a strong beauty category leading “market share gains across all categories,” said the multiple. Online sales “continued to perform well” and now account for 15 per cent of all retail sales, up from nine per cent prior to the pandemic.
Pharmacy sales were up by a much smaller 3.6 per cent compared to 12 months previously. This included a 75 per cent rise in sales from pharmacy services such as flu vaccinations, Covid-19 testing and newer online healthcare services.
The announcement comes as parent company Walgreens Boots Alliance seeks to divest itself of the UK’s largest pharmacy multiple and have a “greater focus on US healthcare,” with bidders for Boots including Asda owners the Issa brothers.
Boots managing director Seb James said: “Boots continues to bounce back strongly from the pandemic and delivered another solid performance this quarter, with sustained retail and pharmacy sales growth and market share gains across all categories.
“Our strategic focus continues to be on transforming our beauty, healthcare and digital offerings and this quarter we made excellent progress, with strong take-up of our new and existing healthcare services while maintaining our leading position in the growing beauty category.
“Looking ahead, Boots is uniquely positioned to capture further growth through the combination of our broad and rejuvenated store portfolio and increasingly powerful online presence. It is a very exciting time for the business, and we are confident that as the UK’s leading health and beauty retailer, we are ideally placed to seize the opportunities presented by the growing healthcare and beauty markets.”
Walgreens Boots Alliance CEO Rosalind Brewer said: “The strategic review of our Boots business is progressing, and our transformational actions are accelerating sustainable value creation.”