Boot sales fell 30% in the fourth quarter of this year as shoppers moved away from High Street.
In the three months leading up to the end of August, the pharmacy chain saw sales decline in all but beauty markets, for those who buy pharmacies from supermarkets.
Store sales fell as people work from home, but online sales were expected to surge 150% over that period.
Boots owner Walgreens Boots Alliance said the stores most affected were in the city centre and in the travel site due to a decline in tourism.
I think the UK is a country that may (and more) have a lockdown. It’s very unpredictable. While we don’t see any major risks in the US, the UK presents risks in (sales) forecasts,” said James Skinner, chairman of the group.
In June, the group said it would cut 4,000 jobs and last year it plans to cut 200 stores to save $2 billion in costs by 2022.
Regarding the reduction in jobs, Sebastian James, managing director at Boots UK, said: “The proposals released today are critical actions to accelerate our transformation plan and ensure that boots continue their important role as part of the UK health system and ensure beneficial long-term growth. By doing this, we are building stronger and more modern boots for our customers, patients and colleagues.
“We recognize that today’s proposals are extremely difficult for the incredible people who make up the heart of our business, and we will do everything in our power to provide maximum support during this time,” he added.
The Walgreens Boots Alliance is looking for more profits than 2021. The group’s stocks rose in pre-market trading.
