Despite significant sales growth in the quarterly results, high street chemist Boots is moving forward with its plan to close 300 stores in the UK. The move, aimed at improving profit margins amid rising costs and competition, will reduce the chain's portfolio from around 2,200 to just 1,900.
Last month, the U.S.-based Walgreens Boots Alliance, the parent company of Boots, announced upcoming store closures within the next year. However, the company assured that there will be no job losses as all employees will be given the opportunity to be redeployed to nearby shops.
The following sites are confirmed for closure on the specified dates:
- Heathside Rd, Woking (end of July)
- UEA campus (end of July)
- Hamlet Ct Rd, Westcliff-on-Sea (August 1)
- Windhill Road, Wakefield (October 6)
- Upper Warrengate, Wakefield (October 7)
- Glastonbury (October 13)
- Guildford Road, Woking (end of October)
Boots stores at Salford Shopping Centre in Greater Manchester, Church Street in Malvern, The Port Arcades Shopping Centre in Ellesmere, and King William Street in London have already closed since spring.
Meanwhile, the Pharmacists’ Defence Association has declared its support for members affected by the closure of 300 additional Boots pharmacies. With the announcement of these closures in the coming year, the association believes that not all members will find suitable alternative roles, and some may face the possibility of redundancy.
Boots presently has a workforce of more than 52,000 employees in Britain.
The company achieved robust quarterly results, with retail sales climbing by 13.4 percent and a ninth consecutive quarter of market share growth.
