Health & Beauty

Boots sees sales decline in Q3

Retail sales at Boots UK declined 2.6% in its Q3 results ending 31 May 2019 while pharmacy sales increased 0.8%.

The health and beauty chain’s sales had an impact on its parent company Walgreens Boots Alliance’s overall performance, as it saw sales of $2.8bn (£2.2bn) – a decrease of 7.3% from the previous year.

Sales at the company dropped 1.6% mainly due to a 1% decline in Boots UK, while gross profit decreased 8.5% compared with the same quarter a year ago and, on a constant currency basis, adjusted gross profit decreased 1.6%, due to lower pharmacy margin and retail sales in Boots.

Despite its drop in sales, Boots was said to “broadly” gained retail market share “amid weakness in certain categories”.

Executive vice chairman and CEO, Stefano Pessina, said: “Following a difficult second quarter, we made progress in the third quarter against the strategic goals we set, and are pleased to report an improvement in our US comparable growth compared with the first half of the year.

“We will continue our aggressive response to rapidly shifting trends, and have already seen improved US retail sales and prescription growth and are making good progress in implementing our Transformational Cost Management Program. Together, this gives us the confidence to reiterate the fiscal 2019 guidance we previously provided.”

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