Boots UK has unveiled its plan while announcing the Q3 result on Tuesday (27 June), to close 300 stores in 'close proximity to each other' over the next year.
"Evolving the store estate in this way allows Boots to concentrate its team members where they are needed and focus investment more acutely in individual stores," said Seb James, Managing Director, Boots UK and ROI.
Boots has delivered another strong Q3 with retail sales growth of 13.4% for the three months ended 31 May 2023. Its own brand range, offering thousands of quality products at affordable prices, delivered a strong performance, including 40% volume growth in the ‘Everyday’ essentials label.
Its pharmacy sales up 5.7%, the best performance in six quarters. Sales were driven by a good start to hay fever season and over the counter medication, including the launch of new erectile dysfunction range, Eroxon, selling one every 30 seconds on the day of launch.
Boots Online Doctor saw growth of 15%, with sexual health and weight loss amongst the most used services.
The company said: "Boots transformation plan has created a strong and stable platform for growth and will accelerate further, including ongoing investment into the rejuvenation of the store estate. In addition to uplifting existing stores, over the next year Boots will continue to consolidate a number of stores in close proximity to each other."
James said: “Our focus on offering our customers the best in healthcare and beauty, together with a continued commitment to great value, has been well received, and it is lovely to see more people choosing to shop with Boots. It is particularly pleasing to see our owned brands proving popular, including an exceptional No7 performance. I would like to thank all of our team members for their hard work in delivering these results”
Cat Smith, Labour MP for Lancaster and Wyre