Boots’ future uncertain despite strong Christmas sales

Boots said it enjoyed strong sales before Christmas as speculation continues over its future.

Although its latest update does not include December, the chemist said early signs showed the festive trading period had been “solid”.

Sales rose 8.1 percent during the three months to the end of November as shoppers took advantage of Black Friday deals.

Ranges from Korean skincare brands Anua and Skin 1004 proved popular, helping sales of beauty products rise 11 per cent compared to last year.

And nearly two bottles of perfume were sold every second during Back Friday week, including fragrances popularized on social media, such as a line by singer Ariana Grande.

Anthony Hemmerdinger, who took over as Boots boss in November, said there was “positive momentum behind us”. But he said there were “increased cost pressures” facing the business after the Budget.

The High Street firm, which has around 1,800 stores, was one of the retailers to sign a letter last year warning Chancellor Rachel Reeves that her tax rises could result in higher prices, job losses and store closures.

Boots’ US owner Walgreens Boots Alliance has reportedly been in talks to sell itself to buyout group Sycamore Partners, with a deal likely to be completed early this year.

A sale is expected to result in Sycamore selling parts of the business, prompting speculation that Boots could list in London.