Boots see sound sales growth in Q4

Pharmacy chain Boots said that like-for-like sales fourth quarter sales increased 4.6%, the seventh consecutive quarter of growth, and that it plans to invest £390m (€582.7) in its chemist stores this year and next year.

Growth drivers included strong sales of cosmetics and fragrance, especially around Valentine's Day. Food sales rose after the re-launch of its Shapers range.

Boots Healthcare International sales were estimated to be ahead 4.5% in local currencies in the quarter, but adverse exchange rate movements result in total reported growth estimated of 1.8%.

The firm said today it expected to meet market profit expectations for the year to March 31.

Boots said it would continue to compete with the rock bottom pricing of Asda and Tesco, following up on from its 2003/04 Prices You'll Love promotion, which saw an average of 18% wiped off the cost of 2,000 of its high volume lines.

The chemist plans to create 40 new edge-of-town stores, a further 20 high street shops and to extend opening hours. Boots is also bumping up its workforce by about 3,000 next year.