Boots disappoints market with poor start to sales
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.SHARES in Boots, the chemist group, which also owns Halfords and Childrens World, fell 23.5p to 522p yesterday as first-quarter sales figures disappointed the City, writes Heather Connon.
Sir Christopher Benson, addressing his last annual meeting as chairman, said sales at Boots the Chemist in the three months to June were 4.2 per cent ahead of last year. That compares with 5.4 per cent for the year to March.
Sir Christopher, who has handed the chairmanship to Sir Michael Angus, said toiletry sales had been affected by bad weather at the start of the quarter but added: 'Good weather brings more of our customers out on to the high street and this benefits sun-tan products as well as other product categories, notably toiletries and baby products.' That had boosted sales in the last few weeks of the quarter and the increase was continuing into July.
Elsewhere in the group, trading was patchy. While Childrens World increased sales by 19.4 per cent, all but 0.9 per cent of that was due to new space.
Do It All, the joint venture with WH Smith that has long been a poor performer, is suffering a 5.3 per cent decline in sales.
Bottom Line, page 34
(Photograph omitted)
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments