Boots has achieved its 14th consecutive quarter of growth, showcasing robust performance in Q4.
- Retail sales surged by 6.2% in the fourth quarter, underpinned by skincare and premium beauty categories.
- Overall sales for the year ending 31 August increased by 6.9%, with strong contributions from health and beauty, convenience, and flagship stores.
- Digital sales experienced a significant rise of 18.7%, driven by the popularity of the Boots app which accounted for 40% of these sales.
- Pharmacy sales also saw a notable increase of 10% year-on-year, spurred by a high demand for NHS and private services.
The health and beauty retail giant Boots has delivered its 14th consecutive quarter of growth, marking a successful end to the financial year. In the fourth quarter alone, retail sales rose by 6.2%, driven primarily by strong performances in both the skincare and premium beauty segments. This growth has contributed to a noteworthy 6.9% increase in overall sales for the year ending 31 August 2024.
Sales across all the company’s store categories have been impressive, especially in destination health and beauty, convenience, and flagship stores. Additionally, the company’s airport locations have reported positive growth figures, further cementing its robust high street presence.
Digital sales for Boots have seen an exponential increase, rising by 18.7% as online platforms become increasingly pivotal. The company’s app has become instrumental in this digital transformation, with 40% of digital sales derived from its usage, reaching a peak of 7.5 million active users.
The retailer introduced over 55 new beauty brands over the year, including the popular TikTok-viral Made by Mitchell and Prada Beauty. This influx has boosted beauty sales by over 6%, highlighting Boots’ success in capturing evolving consumer trends.
Pharmacy sales have also surged by 10% year-on-year. The rise is largely attributed to increased demand for NHS and private services such as Pharmacy First consultations, tallying over 150,000 sessions in the quarter.
Seb James, Boots UK and Republic of Ireland’s managing director, expressed contentment with the year’s outcomes, confirming that Boots has recorded its fourteenth continuous quarter of market share growth. Emphasising the balanced growth across the health and beauty sectors, James signalled continued focus on strategic preparations for future trading peaks.
Effective leadership transition planning is underway, with ex-Asda MD Anthony Hemmerdinger set to take the helm. With decades of retail experience, Hemmerdinger’s leadership is anticipated to sustain Boots’ upward trajectory and ensure seamless continuity post-James’s tenure.
Boots’ impressive end-of-year performance underscores its strategic growth in health and beauty retail and digital innovation.
