Boots to close 300 shops throughout UK over the following 12 months
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oots has stated it would shut 300 of its shops throughout Britain over the following 12 months.
The historic retailer revealed the raft of closures regardless of posting stronger gross sales over the most recent quarter.
The transfer, which it stated will impression shops in shut proximity to different websites, will cut back its retailer property from 2,200 to 1,900 shops.
Boots stated there aren’t any proposed redundancies regardless of the plan, with plans to redeploy affected staff.
A Boots spokeswoman stated: “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 with the ambition of consistently delivering an excellent and reliable service in a fresh and up-to-date environment.”
Earlier on Tuesday, Boots revealed a surge in internet buyers and other people choosing own-brand labels has pushed up gross sales over the most recent quarter.
The chain stated its personal ranges have been flying off the cabinets as shoppers search out worth.
It got here as its US proprietor, Walgreens Boots Alliance (WBA), revealed its internet quarterly revenue greater than halved as demand for Covid vaccines and testing declined.
Retail gross sales throughout Boots jumped by 13.4% within the three months to the tip of May, in comparison with the identical interval final 12 months.
It was pushed up by a lift in internet buyers with gross sales on its digital platform surging by 1 / 4 over the most recent interval.
Boots stated its “Everyday” necessities label, which incorporates 60 toiletries and private care merchandise bought for lower than £1.50, noticed quantity progress of 40% – which means extra merchandise had been bought.
The firm stated it displays individuals choosing extra inexpensive merchandise, amid a squeeze on households’ disposable incomes.
More shoppers are buying at Boots extra usually, the chain stated. It marks a shift from different main private care retailers like Unilever which have seen gross sales boosted by larger costs somewhat than individuals shopping for extra.
Beauty merchandise, particularly skincare, had been greatest sellers over the most recent interval with gross sales up 18% 12 months on 12 months, and May recording the largest week for the class exterior of Christmas.
Its in-house model No7 additionally bought nicely in the course of the quarter, in addition to suncare vary Soltan amid seasonally hotter climate.
The group’s pharmacy arm noticed gross sales develop by 5.7%, pushed by hay fever merchandise and over-the-counter remedy, together with the launch of its erectile dysfunction vary, Eroxon.
It comes as proprietor WBA final 12 months pulled its plans to promote the UK retailer, after receiving plenty of takeover approaches together with one valuing it at about £5 billion.
The Walgreens merger deal for Boots in 2014 valued the agency at about £9 billion on the time.
Seb James, the managing director of Boots UK and ROI, stated: “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 own brands proving popular, including an exceptional No7 performance.”