// Holland & Barrett reports 4.7% sales growth over Christmas trading period
// It enjoyed growth in both online and in-store sales, and all markets experienced like-for-like sales growth
// Transformation plan to extend range, customer services and digital reach also showed early progress
Holland & Barrett has posted a rise in sales during its Christmas quarter, as its transformation plan shows early signs of progress.
For the three month period ending December 31, total sales increased 4.8 per cent while like-for-like sales saw a 3.3 per cent uptick.
The health and wellbeing retailer said the overall results were boosted by “accelerating sales growth” both in stores and online, with online surging 22 per cent.
Holland & Barrett also highlighted “particularly strong” growth in online personalised subscription proposition over Christmas.
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The retailer said all of its markets experienced like-for-like sales growth, with significant growth in clean beauty and vitamins categories.
Meanwhile, its transformation plan to extend the health and wellness products and services range and to extend its digital reach to help customers live healthier and feel better also showed encouraging early progress.
Holland & Barrett said it achieved strong cash generation in the quarter thanks to disciplined cost and capital investment control, with “£26 million of cash on hand” by the year’s end.
As a result, it said it was “well positioned to drive investment in its digital and technology capability and in the extension of its product ranges and services offer”.
“I am pleased with the progress our support centre, distribution and store teams have made in putting customers back at the heart of our business,” Holland & Barrett chief executive Tony Buffin said.
“Our customers are increasingly telling us they want to live more healthy lifestyles, to look better and to do so without compromising on the ethically and sustainably sourced products and services they buy.
“Holland & Barrett is ideally placed to meet these demands in growing markets and although we are still only in the early stages of transforming the business I would like to thank all of our teams for their hard work in the run up to Christmas.”
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