Boots has reported strong first quarter results thanks to a “record-breaking” Black Friday and increased consumer demand for luxury hair care.
Retail sales soared 9.8% for the three months ended 30 November 2023, on top of an 8.7% increase in the prior year.
The UK health and beauty retailer achieved its “biggest ever month of sales” in November on boots.com and a record number of sales on Black Friday (24 November).
In-store purchases also soared 8% across Black Friday week, from 20 to 26 November.
Electrical beauty, skin care, premium beauty and No7 were the top performing categories during Black Friday.
Fragrance also flourished, with a bottle sold every second on Black Friday week, reported the retailer.
Beauty sales were up 11.4% in total during the quarter.
Sales for Boots' own-brand No7 increased by 13%, driven in part by new launches like cosmeceutical range Derm Solutions.
“Value remains a key focus for customers,” read a statement from Boots.
Sales in luxury hair care also rose 10% following the launch of the retailer’s online professional hair care category.
Ten salon brands, including Redken and L’Oréal Professionnel, launched on boots.com in a bid to strengthen its luxury offering and boost the retailer’s market share in the premium sector.
Boots.com sales were up 17.5% year-on-year, contributing a healthy 19.2% of total sales for the quarter.
It reported more than 16.3 million active Boots Advantage Card members at the period end, as well as 7.2 million app users.
In-store footfall also grew 7% during this three-month period.
This is Boots eleventh consecutive quarter of market share growth.
Boots’ Christmas sales performance will be reported in its Q2 earnings later this year.
However, Seb James, MD of Boots UK and ROI, has hinted towards a strong festive trading period.
“This strong start to the year, together with a good Christmas, sets us up well for another good year,” he said.
This news follows Boots’ parent company Walgreens Boots Alliance reporting it had narrowed its operating loss from US$6.2bn a year ago to $39m in the three months ended November 2023.
The company’s sales also increased almost 10% to $36.7bn.
Read more:
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- Boots signs £4.8 billion deal with Legal & General to offload pension scheme
