Boots posts sales surge despite company closing 1,200 stores
Boots' parent company is making closures
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Boots has reported stronger sales in its latest quarter, despite ongoing store closures across its network.
The UK pharmacy and retail chain's positive performance comes as its US-based parent company, Walgreen Boots Alliance, announced plans to shutter 1,200 stores in the United States over the next three years.
This move follows widening losses for the parent company, with annual operating losses more than doubling to $14.1billion for the year to August.
The company revealed a 2.3 per cent increase in total sales for the fourth quarter, showing improvement from the previous quarter's 1.6 per cent growth.
Boots has this year nearly completed a programme of roughly 300 store closures, which will leave it with approximately 1,900 locations nationwide.
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Britain's high streets have been hit by a wave of store closures as of late PAIts retail performance was particularly strong in the fourth quarter, driven by the company's sales in skincare and premium beauty products.
Sun-care sales also saw a significant boost, with Boots' own label Soltan range experiencing a 20 per cent increase compared to the same quarter last year.
The retailer's airport stores also performed well, benefiting from customers purchasing last-minute holiday essentials.
Across Boot UK's pharmacy division, sales were up 10 per cent year-on-year, which has been partially attributed to heightened demand for NHS and private healthcare services.
The company reported a record year for travel vaccinations, indicating a resurgence in international travel and a growing focus on preventative healthcare.
This success in pharmacy sales complements Boots' retail growth, showcasing the company's ability to thrive across multiple sectors.
Outgoing Managing Director of Boots UK and ROI, Seb James, hailed the company's performance as "a strong set of results".
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One Boots store will have its final day of trading today, May 28PA IMAGESHe highlighted the company's 14th consecutive quarter of market share growth and positive momentum across the business.
James shared: "We're laser-focused on preparations for our peak trading period, with our Christmas gifting range landing in stores and Black Friday just around the corner."
As he prepares to hand over leadership to Anthony Hemmerdinger in November, James expressed confidence in the company's position.
"I am confident that I am leaving the business in a very solid position, well set up to continue delivering on its exciting transformation," he added.
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