Boots comparable retail sales drop by nearly 18% in second quarter
In its second quarter results, Walgreens Boots Alliance said comparable retail sales at Boots fell by 17.9% year-on-year as Covid-19 restrictions impacted footfall at stores in UK high streets, train stations and airports.
However, online sales rose by 105% in the three months to 28 February as the retailer continued to gain market share in the beauty category.
Boots UK’s comparable pharmacy sales increased by 3.2% in the period as the retailer benefited from the favourable timing of NHS reimbursement and stronger pharmacy services, which mitigated the impact of lower prescription volume.
Across the wider Walgreens Boots Alliance group, second quarter revenue climbed by 4.6% to $32.8 billion.
Rosalind Brewer, the group’s recently appointed chief executive, said: “Overall, we have achieved a good financial quarter with results well ahead of expectations, despite significant impacts from C0vid-19, and we have raised our full-year EPS guidance. I am optimistic about our ability to drive sustainable, long-term value for our shareholders, while acknowledging that there is still work to be done to stabilise the base business.”
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