Superdrug hails strong sales and market share growth
Superdrug has reported strong uplifts in annual sales and profit as it continues to make market share gains.
In 2024, sales rose by 7% to £1.63 billion as pre-tax profit increased by 22.6% to £136.8 million.
The health and beauty retailer said its performance was driven by an acceleration of its store and online strategy, competitive pricing and promotion, and investment in its own brand and exclusive offerings.
Subscribe to TRBDuring the year, Superdrug opened 13 new stores in places like Craigavon and Lakeside Thurrock, and extended its Westfield Stratford shop to create the biggest Superdrug ever at 9,900 square feet. The retailer also revamped 45 existing stores and opened its 500th Beauty Studio.
As part of a ramping up of its Offline plus Online strategy, the retailer relaunched its customer app and grew its online marketplace where sales increased by 107% year-on-year.
Colleague investment remained a key part of Superdrug’s strategy which resulted in the retailer being awarded a Stonewall Bronze Award for LGBTQ+ inclusion, an Employee Benefit Award for menopause support, and an Excellence Award for large employer of the year. In addition, the business invested £1 million into colleague wellbeing.
Meanwhile, Superdrug’s Apprenticeship scheme enrolled 300 new candidates, the largest number since the scheme started 18 years ago.
Peter Macnab, Superdrug’s chief executive, said: “We’re extremely proud to release a set of financial results worthy of our 60th birthday celebration year and which prove our brand is more relevant today than it ever has been.
“We continue to stay true to our vision of leadership in accessible health and beauty retail. Available, affordable and inclusive all remain at the heart of what we do, and clearly our excellent product offering, delivered with vibrancy and convenience, is resonating with more and more of today’s shoppers.
“To my colleagues, I’d like to say thank you. In 2024 we delivered more than we ever have before, in everything from product launches and industry innovations to experiential celebrations and CSR initiatives. It is your energy, tenacity, and dedication that we see reflected in these annual results.
“And to our customers, at a time when households are under so much pressure, we thank you for your continued loyalty. At Superdrug we always challenge ourselves to look forward, constantly evolve, and keep improving. So, we look forward to introducing you to yet more exciting health and beauty innovations in 2025.”
