Boots has reported substantial growth in its retail sales for the fourteenth consecutive quarter, highlighting strong performance across various sectors.
- The company saw a 6.2% increase in retail sales during the fourth quarter, with skincare and premium beauty products being primary contributors.
- Boots achieved a full-year sales growth of 6.9%, supported by robust performances in health, beauty, convenience, and flagship stores.
- Digital sales enhanced by 18.7%, now making up nearly 15% of total sales and marking a significant uptick in online engagement.
- An influx of 55 new beauty brands and an upsurge in pharmacy sales underscore Boots’ expanding market presence.
Boots has successfully marked its fourteenth consecutive quarter of growth by achieving an impressive 6.2% increase in retail sales for the fourth quarter, as of 31 August 2024. Skincare and premium beauty products prominently drove this surge, with the entire category ensuring the health and beauty giant reached a full-year sales growth of 6.9%.
The retailer reported growth across all categories, with standout performances noted in destination health and beauty, convenience, and flagship stores. This broadened store performance was accompanied by positive sales figures in airport locations, suggesting an overall strong retail presence.
Remarkably, Boots’ digital sales climbed by 18.7%, now constituting almost 15% of total sales. This digital expansion is significantly bolstered by the Boots app, which hit a record 7.5 million active users, contributing 40% of digital sales. This highlights increasing consumer engagement with Boots’ online platforms.
Over the year, Boots introduced more than 55 new beauty brands, such as TikTok’s Made by Mitchell and Prada Beauty. This expansion resulted in a beauty sales increase exceeding 6%. Boots’ Price Advantage initiative further catalysed customer loyalty, with Advantage Card memberships rising by 4.5%, totalling 16.7 million active members.
Pharmacy sales also rose substantially, with a year-on-year increase of 10%. This growth was primarily fueled by higher demand for both NHS and private services, including over 150,000 consultations for the NHS Pharmacy First Service during the quarter. Seb James, the outgoing managing director, expressed satisfaction with the results and confidence in the business’s trajectory under incoming director Anthony Hemmerdinger.
Boots’ sustained growth across multiple sectors and channels underscores its robust market position and strategic acumen.
