Boots sales rise 6.9% in FY24 amid strong Q4
According to the retailer, its store performance was boosted by sales growth in destination health and beauty, convenience and flagship stores
Boots has reported an “excellent” fourth quarter retail sales rise of 6.2% year-on-year, which contributed to a “strong” sales performance in its full-year results, as sales rose 6.9% for the year ended 31 August.
It comes as both in-store and online sales continued to grow during the fourth quarter across all categories.
Digital sales were particularly strong in the quarter, having risen by 18.7% year-on-year on top of substantial growth in the year ago quarter. This makes up nearly 15% of Boots’ total retail sales.
In addition, the Boots App has become increasingly popular, now with 7.5 million active users and sales growing to “the highest ever level”, contributing 40% of total digital sales.
According to the retailer, its store performance was boosted by sales growth in destination health and beauty, convenience and flagship stores, while airport stores also saw good growth due to more customers shopping for last-minute holiday essentials.
Boots also saw increased demand for both NHS and private healthcare services, which propelled pharmacy growth of 10% year-on-year, contributing to a 4.9% increase for the full year.
Seb James, managing director of Boots UK and ROI, said: “I’m delighted to close the year with such a strong set of results. We have delivered a fourteenth consecutive quarter of market share growth and are seeing positive momentum across the whole business, with healthcare now performing strongly alongside our innovative beauty business.
“We’re laser focused on preparations for our peak trading period, with our Christmas gifting range landing in stores and Black Friday just around the corner.”
He added: “As I prepare to hand the leadership baton over to Anthony [Hemmerdinger], I am confident that I am leaving the business in a very solid position, well set up to continue delivering on its exciting transformation. It has been a privilege to lead this business over the last six years and I’m incredibly proud of our team members for everything they do to make Boots as relevant today as it was 175 years ago.”
