Sunday, July 21, 2024

Boots delivers strong quarter with continued sales growth as CEO leaves and owner ditches sale

Boots has delivered a thirteenth consecutive quarter of market share growth with both retail and pharmacy sales in growth for the three months ended 31 May 2024.

Retail sales increased by 6%, on top of a 13% increase in the prior year quarter, with growth across all categories.

Digital sales continue to grow rapidly up 13.8%, on top of 25% growth in the year ago quarter. In store sales also grew in the quarter boosted by increased footfall in flagship, destination health and beauty and travel stores.

Pharmacy sales were up 5.8% for the quarter, driven by increased take up of healthcare services.

Sebastian James, Boots UK & ROI CEO, said: “This is another set of consistently strong results for Boots. I am pleased to see our positive momentum continue across the whole business, with both retail and healthcare increasing sales and a thirteenth consecutive quarter of market share growth.

“We continue to focus on making exciting new brands and services accessible, whilst focusing on value and rewarding loyalty. We are committed to delivering a fantastic experience for customers however they shop with us. I would like to thank our incredible team members for their continued hard work and ongoing commitment to deliver for our customers every day.”

The results comes as Sebastian James looks to leave his role after six years at the Nottingham business and Boots’ owner, Walgreen Boots Alliance, for the second time pauses plans to sell the business or list it on the stock market, as the company’s growth, strategic strength and cashflow remain key contributors to Walgreens Boots Alliance.

According to reports in Sky News, Sebastian James will depart Boots in November to run Veonet, a chain of ophthalmology clinics.

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