Boots grows market share for 14th consecutive quarter as full-year sales rise

The UK’s largest health and beauty retailer reported a 6.2% growth in retail sales for the three months ending August 31, 2024, while full-year sales grew 6.9% year on year.

The company said it saw growth across all categories in the last quarter as in-store and online sales grew. Digital sales were up 18.7% year on year, making up nearly 15% of total retail sales.

The Boots app, which has 7.5 million active users, recorded its highest-ever level of sales, contributing 40% of total digital sales.

In-store sales were driven by growth in destination health and beauty, convenience and flagship stores, as well as airport stores as customers shopped for last-minute essentials.

Beauty sales in the quarter were up over 6% year on year as the retailer added new trending and luxury brands including Made by Mitchell, Prada Beauty and Laneige, bringing the total number of new beauty brands launched in the year to 55.

Boots said increased demand for NHS and private healthcare services in thee last quarter propelled pharmacy growth of 10% year on year, contributing to a 4.9% increase for the full year. 

Price Advantage, Boots’ loyalty scheme, posted a 4.5% year-on-year increase in sign-ups to Boots Advantage Card, which has 16.7 million active members.

Boots UK and Ireland managing director Seb James, who will hand over to Anthony Hemmerdinger next month, said: “I’m delighted to close the year with such a strong set of results. We have delivered a 14th 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.

“As I prepare to hand the leadership baton over to Anthony, 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.”