Boots sales fall as Walgreens Boots Alliance profits decline

Boots Covent Garden

Boots has recorded a decline in first-quarter sales as parent group Walgreens Boots Alliance reiterated its full-year profit guidance despite a slump in operating income.

WBA posted a 27.6% fall in operating income to $1bn in the quarter to November 30, 2019, down 15.6% to $1.5bn on an adjusted basis.

Sales across the group increased 1.6% to $34.4bn during the period despite a 2.2% decline in sales across the US division’s sales during the period.

The retail group’s international division posted a 6.3% fall in gross profit year on year, down 3.7% on a constant currency basis and “reflecting lower retail sales and margin in Boots UK”.

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