Sales of Boots declined by nearly 30% from three months to the end of August as shoppers moved away from the city center and bought health products at supermarkets.
For three months, UK retailers have lost their share in all markets except for beauty. For fear of Covid-19 infection, shoppers have decided to avoid stores and buy pain relief, shampoo, and soap at the same time as groceries.
The Walgreens Boots Alliance, owner of Boots, said the chain’s city center and travel sites were most affected by reduced tourism and the shift to work from home. Boots’ online sales increased 155% over the past three months.
During this period, the decline in sales at the retail site Boots founded improved compared to the 48% decline in the previous quarter, but profit margins fell at a much higher rate, helping to attract Walgreens’ international division, which is mainly made up of British companies. $3m operating loss per quarter compared to a $194m gain in the previous year.
Last year, Boots said its parent company would close about 200 stores in an effort to save $2 billion by 2022. So far, 138 stores have been closed.
In June, Boots said it would cut 4,000 jobs by 7% of its employees, shutting down 48 opticians and removing roles from headquarters and stores.
Walgreens predicts that the deal will continue to be difficult over the next six months, but expects to recover in 2021, predicting that the Corona 19 vaccine will become available and the closure will ease globally.
However, company chairman James Skinner told City analysts: [further] blockade. It’s very unpredictable. We don’t see big risks in the US, but the UK takes risks. [sales] projection.
He said the company is assuming that transactions will gradually improve in the UK, but a significant blockade will have a negative impact on transactions.
He said Boots has conducted more than 1 million Covid-19 tests for the UK government, and while it may benefit from distributing the vaccine around the world, the deal could be worse than expected if the government closes the store again.
Walgreens said the entire group is increasing investments in digital services and online shopping links from $400 million to $1 billion because the epidemic has accelerated the transition to a busy street.
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