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Boots

This article was originally published in The Rose Sheet

Executive Summary

Beauty and toiletries sales advanced 4.7% to $3.7 bil. (£1=$1.84), with premium cosmetics growing 10%, boosted by a strong seasonal gift program and expanded distribution, British retailer says in preliminary FY 2003 (ended March 31) results. Fragrance sales were up on new launches, Boots adds. In addition, sunshop sales increased 17%. Toiletries volume was modest, due in part to price reductions in the category, firm notes. Boots The Chemist generated sales of $8.26 bil., up 4.5% adjusted for currency, or 3.9% like-for-like. Operating profit declined 6.6% to $975 mil. Sales in Boots Healthcare International improved 9.6%, or 7.8% in local currency, to $619.7 mil. Clearasil sales were up 6% overall, but dropped 3% in the U.S. "due to substantial pipeline fill in 2002/2003," according to the retailer. Operating profit grew 15% to $148 mil. Group sales improved 5% to $9.8 bil., with group operating profit from continuing operations up 6% to $1 bil...

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