Holland & Barrett sees double-digit sales growth as it continues transformation

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Health and wellness retailer Holland & Barrett has reported a second consecutive year of double-digit growth as its customer-first approach and transformation strategy to meet growing demand ramps up.

The retailer recorded a 10% year-on-year uplift in sales in the financial year in 2024 to reach £884.5m up from £806.1m the year prior.

Gross profit grew to £524m compared with £476m year on year, driven by a “significant investment in the business’ digital transformation strategy”.

Customer numbers reached an “all-time high” with a rise of 9% and international partnerships saw full-year revenues increase 19% to £27m.

Alex Gourlay - Holland & Barrett

Source: Holland & Barrett

Holland & Barrett executive chair Alex Gourlay: ‘This has been a landmark year for our business’

So far in the current financial year, Holland & Barrett has seen strong growth as sales and gross profit are both up 8% year-on-year.

It added that “confidence is high” that it will see a third consecutive year of strong growth boosted by its online performance.

Its three-year transformation strategy and investments in FY24 have been focused on talent and colleagues, high street and communities, product and service innovation, and the transformation of technology and digital presence.

Holland & Barrett executive chair Alex Gourlay said: “This has been a landmark year for our business—one defined by purpose, transformation and a significant investment in the future of this 150-year-old business.

“With societal shifts towards prevention, testing and self-care, and insufficient public health care provision due to constraints on national health systems, there is an increasing unmet need which Holland & Barrett was well positioned to serve.

“It is with great pride that we have taken the bold steps necessary to meet the evolving needs of our customers, accelerating our transformation journey and laying a strong foundation for long-term growth.

“Our retail performance continues to outperform the UK and Netherlands high streets and compares strongly against other European countries. We are energised by the momentum we’ve built and excited for the opportunities ahead.

“I could not be happier with the ongoing performance of the business or prouder of our colleagues who have been at the heart of delivering this strong growth.”