Underlying like-for-like sales at its core Boots the Chemist chain were up 1.5 per cent in the fourth quarter, with total sales up 3 per cent. For the year as a whole, like-for-likes were flat and total sales up 1.6 per cent.
Dispensing, healthcare and cosmetics all performed well, but the performance was held back by a weak performance in electricals and from the January sale. Boots Opticians delivered an improved second-half performance and sales were up 6.7 per cent in the quarter following a restructuring programme.
The company also announced 1,000 price cuts on health, beauty, food and baby products as it continues to try to remain competitive with the supermarkets on price. The average reduction on products, such as Colgate toothpaste and Imperial Leather shower gel, will be 8 per cent.
'In what has been a tough trading environment, we have performed solidly in our fourth quarter,' said chief executive Richard Baker. 'We believe that the consumer environment is set to remain challenging and that there will be continuing inflationary pressure on retail costs.'
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