Boots enjoys record sales ahead of potential IPO

In its annual results released this morning, the firm said its sales were up 9.8% year-on-year, in addition to 8.7% growth from the previous year

Cosmetics giant Boots has enjoyed record sales over the past 12 months, as Black Friday helped boost the firm ahead of a potential IPO.

In its annual results released this morning, the firm said its sales were up 9.8% year-on-year, in addition to 8.7% growth from the previous year.

Sales, it said, were driven by record-breaking online and app sales especially on Black Friday, as savvy Brits looked for deals in the run up to Christmas.

The firm’s website reported sales up 17.5%, with November its biggest ever month, while overall it had an 11th consecutive quarter of market growth.

It also reported a 7% increase in footfall at stores around the UK.

Boots said its Christmas sales performance will be shared as part of its half-year earnings later in the year, but “early indications suggest a strong” period.

Seb James, MD of Boots UK and ROI, said: It is really good to see that market share has grown for the eleventh quarter showing that more customers are choosing Boots.

This strong start to the year, along with a good Christmas, sets us up well for another good year and I would like to thank most sincerely all of my colleagues for their hard work and resilience over this vital trading period, James said.

Boots’ parent firm Walgreens Boots Alliance, which is listed in the US, topped expectations and its shares gained in New York.

This comes after a report last year indicated Walgreens Boots Alliance is considering exiting the UK business. Among options discussed was a possible IPO, which would bolster London’s ailing market, as per Bloomberg.

In November, Walgreens was reportedly set to pay £1 billion to hand over responsibility for Boots’ pension scheme.

A potential IPO is said to be worth nearly £7 billion and would be its first return to the market after a 16-year gap.