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WBA sales rise as footfall improves at Boots UK

Sophie Smith
27 June 2023

Walgreens Boots Alliance has reported an 8.6% increase in sales to £27.8 billion ($35.4 billion) for the third quarter ending 31 May 2022, with Boots UK retail and pharmacy sales up.

Sales were benefitted by growth in the US Retail Pharmacy and International segments, as well as a significant contribution from the US Healthcare segment.

The International segment saw sales rise 5% to £4.4 billion ($5.6 billion), with Boots UK sales up 10.2 %.

As part of this, the health and beauty retailer's comparable pharmacy sales increased 5.7% compared with the year-ago quarter.

Boots UK comparable retail sales were up 13.4%, growing market share for the ninth consecutive quarter. Footfall also continued to improve, increasing 7% compared to the year-ago quarter.

Ecommerce continued to perform "strongly" at Boots UK, with sales up over 25% - accounting for over 14% of retail sales.

WBA also noted the success of No7's world-first super peptide skincare range, with one product sold in the UK every two seconds on launch day and over 500,000 transactions in the first four weeks.

Rosalind Brewer, CEO of the Walgreens Boots Alliance, said: "WBA achieved sales growth in the third quarter despite a challenging operating environment.

"Consumers continue to appreciate the value, convenience, and range of services provided by Walgreens and Boots.

"However, significantly lower demand for COVID-related services, a more cautious and value-driven consumer, and a recently weaker respiratory season created margin pressures in the quarter.

"We are raising our cost savings program target to $4.1 billion and taking immediate actions to optimise profitability for our US Healthcare segment. I am confident that our turnaround strategy positions WBA to drive sustainable core growth and deliver long-term shareholder value."

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