Pharmacy sales drop 7% at Boots while retail sales are up 15%
Pharmacy sales at Boots were down 6.9 per cent in the three months to August 31 compared to the same period in 2021, with the multiple citing reduced demand for Covid-19 services.
However, retail sales – particularly in store transactions – performed well, seeing a 15.2 per cent increase year-on-year, the company’s quarterly results show.
And despite the year-on-year drop in demand for Covid-19 services, pharmacy sales were up 1.2 per cent compared to the company’s 2022 fiscal year as a whole.
The multiple said its retail business is “now exceeding pre-pandemic levels,” with flagship and travel stores seeing a “particular boost in footfall” and a greater range of beauty brands on offer.
The company said its ‘retail healthcare sales’ rose almost 14 per cent in the last quarter, driven in part by the popularity of own-brand ranges such Boots’ first Erectile Dysfunction treatment as well as a single product to treat thrush and BV.
Boots also said that over 750,000 customers have been “onboarded” to its online doctor service since it launched last year, and that the 2022 flu vaccination service has seen its “strongest ever demand”.
Boots managing director Sebastian James said: “This is a really encouraging set of results. I am especially happy to see more and more customers choosing Boots over others and our market share rising as a result.
“In addition I am pleased with the progress we are making in quickly introducing new, trending beauty brands, our healthcare services supporting the NHS and, of course, with our boots.com offer which is now double its pre-pandemic levels.”
He offered “a huge thank you to the 50,000 plus Boots family who have made this great performance happen”.
Mr James also referred to a number of initiatives aiming to support customers amid high levels of inflation, such as the expanded price advantage scheme and freezing prices on 1,500 products, saying “we know that cost of living will be a big consideration for everybody”.