Boots continues its growth streak with a strong performance in the fourth quarter, marking a 6.2% increase in retail sales.
- Boosted by skincare and premium beauty products, Boots achieved a 6.9% annual sales growth for the year ended 31 August 2024.
- The company saw improved sales across all categories, with destination health and beauty, convenience, and flagship stores performing well.
- Digital sales surged by 18.7%, further supported by the increasing popularity of the Boots app.
- With 55 new beauty brands launched this year, Boots expanded its beauty portfolio, driving over 6% increase in beauty sales.
Boots has demonstrated resilience and adaptability by achieving a 6.2% increase in retail sales during its fourth quarter, contributing to a 6.9% annual growth overall. This growth has been largely driven by the popularity of skincare and premium beauty products, which have notably boosted the company’s performance.
All retail categories under Boots have shown impressive growth, particularly in destination health and beauty, convenience, and flagship stores. Moreover, the company’s airport sales have also witnessed a positive trend, reflecting the broad-based strength of the brand.
Digital transformation remains a cornerstone of Boots’ strategy, with digital sales soaring by 18.7%. The Boots app has played a significant role in this success, its user base now including 7.5 million active users, contributing 40% of digital sales.
In a strategic move to enhance its market position, Boots launched over 55 new beauty brands throughout the year. This initiative included products from trending names like Made by Mitchell and Prada Beauty, which have helped elevate beauty sales by more than 6%.
Additionally, the Price Advantage initiative has successfully attracted new Advantage Card members, with sign-ups increasing by 4.5% to a total of 16.7 million active members.
The pharmacy segment has also been a significant contributor to the annual growth, with sales increasing by 10% year-on-year. Demand for both NHS and private services, such as the NHS Pharmacy First Service, has played a critical role.
Seb James, the managing director of Boots UK and Republic of Ireland, is set to depart next month. He expressed pride in the sustained growth over his tenure, highlighting a robust market position ahead of the peak trading season. His successor, Anthony Hemmerdinger, previously the retail and operations director, is poised to drive the company’s ongoing transformation.
Boots’ consistent performance reflects its strategic focus on innovation and customer engagement in the competitive retail market.
