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Boots pharmacy sales up 10 per cent against last year


Boots pharmacy sales up 10 per cent against last year

Boots UK’s pharmacy sales rose by 9.9 per cent in the year to August 31, the company announced as it posted buoyant sales and market share figures.

In a statement this morning (October 12), the UK’s largest pharmacy multiple said that along with the rise in prescriptions and services, it had seen a 12.5 per cent year-on-year rise in retail sales and the tenth consecutive quarter of market share growth.

This was driven by rising footfall in city centre flagship stores and shopping centres as well as a 23.7 per cent leap in transactions, with strong performance in the skincare and beauty categories.

Boots said it was continuing to focus on value for money amid consumers’ inflation concerns, claiming that its “value perception” among shoppers had risen by 0.8 per cent compared to a drop of three per cent for the rest of the market.

Boots managing director Seb James said: “I am really encouraged to see continued strong performance as the work that we have done to expand our ranges, drive value and innovate in beauty seems to be resonating extremely well with customers.

“We have great plans for the year ahead including our new beauty store in Battersea, a further extension of our beauty category, expansion of our online doctor service and much more.”

Having previously announced plans to close 300 stores by the end of the year to reduce pharmacy ‘clusters’ in certain parts of the UK, yesterday it was revealed that the multiple is selling a number of branches “predominantly in England” through broker Christie & Co. P3pharmacy understands that these branches will come out of the 300 that were announced in the summer.

The uptick in Boots sales contributed to a 12.4 per cent year-on-year rise in parent company Walgreens Boots Alliances ‘international’ (non-US) business, with fourth quarter sales reaching $5.8bn.

Despite the US market also seeing an increase, WBA's remarks on overall business performance were tepid, citing operating losses standing at $450m in August this year compared to $822 at the same point in 2022.

Interim CEO Ginger Graham, who was replaced by new chief executive Tim Wentworth this week, commented: “Our performance this year has not reflected WBA’s strong assets, brand legacy or our commitment to our customers and patients.” 

Ms Graham said WBA is focusing on the profitability of its US healthcare business and is planning cost reductions “of at least $1bn” and expects to see the “impact of these actions” in the second quarter of the 2024 fiscal year.

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