// Boots Q3 like-for-like sales down 2.6%
// Gross profit down 8.5%
// Boot’s pharmacy sales saw an increase of 0.8%
The parent company of Boots has recorded a decline in the health and beauty chain’s third quarter sales, but said it is “gaining retail market share amid weakness in certain categories”.
Walgreens Boots Alliance said comparable retail sales at its Boots fascia fell by 2.6 per cent while gross profit decreased 8.5 per cent compared with the same quarter a year ago.
On a constant currency basis, adjusted gross profit decreased 1.6 per cent due to lower pharmacy margin and retail sales.
Meanwhile, Boot’s pharmacy sales saw an increase of a mere 0.8 per cent in the quarter.
Furthermore, operating income decreased by 28.6 per cent to $119 million (£93 million), while adjusted operating income decreased 14.9 per cent to $165 million (£128 million), down 10.5 per cent on a constant currency basis.
Overall, Walgreen Boots Alliance said sales decreased by 1.6 percent on a constant currency basis thanks to a 1.0 per cent decline in Boots’ UK sales.