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Superdrug annual sales soar thanks to continued investment in stores

Sophie Smith
08 July 2024

Superdrug has delivered a 11.8% increase in annual sales to £1.5 billion, driven by store sales and own brand growth. 

The health and beauty retailer saw pre-tax profit rise 43% to £111.6 million in 2023, compared to £77.8 million in the previous year.

Growth was driven by investment in its store estate, having opened 14 new stores in key locations such as The Trafford Centre in Manchester, Brent Cross Shopping Centre and Braehead – Superdrug’s largest store in Scotland - during the year.

The company also modernised and refitted 45 of its existing stores, with improvements including new shop fronts, upgraded store Wi-Fi, new floor layouts, upgraded fascia and internal signage, improved flooring and ceiling tiles made from bio-soluble mineral wool, clay and starch, and energy efficient LED lighting.

Peter Macnab, CEO at Superdrug, said: "Our vision is to be the UK’s leading accessible health and beauty retailer with high quality, affordable products at the heart of everything we do.

"Over the last year, we’ve continued to invest into our store estate to provide customers with best-in class shopping experiences. The store sales growth gives us the confidence that our strategy is working, and new stores are being welcomed by customers."

It came as Superdrug continued to enhance its offline plus online offering during the year, with over 22,000 products now listed on the retailer's marketplace and its customer loyalty programme reaching 18.1 million members thanks to the launch of VIP Rewards.

Over 60% of total sales are made through members, which it said highlights increasing levels of brand loyalty and competitive price.

Sales were also driven by the retailer's own-brand offer, with its Optimum Collagen Night Cream flying off the shelves in the first half of the year, selling out twice due to demand. Superdrug's own brand cosmetic range, Studio London, also continued to grow.

Meanwhile, exclusive launches such as Biore's SPF, NYX x Barbie and fragrance by Billie Eilish made up a high proportion of sales, as customers snapped up the latest trending beauty products.

Read's The Interview: Superdrug's Head of Own Brand on the success of its fastest growing category.

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