Boots sales rise as pharmacy steers growth

The Boots sale process is coming to a close with final round bids due for the chemist later this month. 
// Boots sales grow in second quarter, boosted by beauty and pharmacy divisions
// Total UK sales rose 15.2% in the second quarter ended 28 February 2022

Boots has recorded a strong sales increase as its pharmacy division steered growth in the second quarter.

The health and beauty retailer said its transformation plan has further strengthened its position, as total UK sales rose 15.2% in the second quarter ended 28 February 2022.

Boots’ UK comparable retail sales increased 22% with market share gains across all categories, led by beauty.

Beauty now accounts for 50% of sales on Boots’ website.

READ MORE: Boots IPO “not off the table” if takeover plans flop

The retailer’s online division saw sales increase by 60% versus pre-Covid levels. sales now account for more than 15% of Boots UK total retail sales (from pre-Covid levels of 9%) with an increasing proportion coming from the Boots UK mobile app.

Pharmacy sales increased 3.6%, reflecting stronger demand for its pharmacy services. Sales from pharmacy services grew almost 75% year on year, benefitting from Boots UK’s new online healthcare services, flu vaccinations and Covid-19 testing.

Boots also reported increased footfall levels, up approximately 52% versus the prior year quarter.

“Boots continues to bounce back strongly from the pandemic and delivered another solid performance this quarter, with sustained retail and pharmacy sales growth and market share gains across all categories,” Boots UK & ROI managing director, Sebastian James said.

“Our strategic focus continues to be on transforming our beauty, healthcare and digital offerings and this quarter we made excellent progress – with strong take-up of our new and existing healthcare services while maintaining our leading position in the growing beauty category.

“Looking ahead, Boots is uniquely positioned to capture further growth through the combination of our broad and rejuvenated store portfolio and increasingly powerful online presence. It is a very exciting time for the business, and we are confident that as the UK’s leading health and beauty retailer, we are ideally placed to seize the opportunities presented by the growing healthcare and beauty markets.”

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