Home Business News Boots sales decline due to tough market conditions

Boots sales decline due to tough market conditions

by LLB Reporter
27th Jun 19 3:43 pm

Sales at high street chemist chain, Boots have dropped in the third quarter according to US owner, Walgreens Boots Alliance (WBA).

WBA reported that international sales were down 1.6% in the three months ending 31 May although 1% of this was from Boots UK.

Overall, the Walgreens Boots Alliance’s sales in the quarter increased 0.7% to 34.6 billion US dollars (£27.24 billion). But profits were down due to tough UK market conditions.

In May, it was reported that Boots would be looking to close 200 stores in the UK as part of its review in order to cut costs.

Stefano Pessina, executive vice chairman and CEO, said the transformation plans were already paying off.

“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,” he said.

“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 programme.

“Together, this gives us the confidence to reiterate the fiscal 2019 guidance we previously provided.”

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