Store closures update: Boots to close 47 stores across UK in blow to high street

Posted by Admin July 4, 2024 Shopping

Boots has confirmed it is set to close 47 stores in a massive blow to high streets across the UK.

Store closures are ramping up across the UK with major retailers responding to changing consumer behaviour and a fluctuating market environment.

Last year, the pharmacy chain outlined plans to shut down 300 locations.

In parent company Walgreen Boots Alliance’s latest quarterly report, the firm confirmed its intention to slash the number of stores currently operating in both the US and the UK.

As it stands, Boots has closed 253 stores of the 300 earmarked for closure in the near future.

This means that there remain 47 sites which are still operating and likely to close for good in the coming months.

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High streets have been hit by a wave of store closures since the pandemic, on top of banks shutting down PA

Notably, Boots has not disclosed the names of the stores that will eventually be shut down.

However, the high street staple has shared that the majority will close when the impacted locations’ lease comes to an end.

These pending store closures come as Boots UK posted a jump in sales over the last quarter.

Retail sales jumped by six per cent year-on-year thanks to sold footfall in its travel, beauty and flagship sites.

The company also reported a 13.8 per cent boost in sales growth over the last quarter, partially due to its investment in the Boots app.

Furthermore, Boots’ pharmacy business saw a 5.8 per cent increase in sales over the period.

On these results, Sebastian James, Boots UK and Republic of Ireland chief executive officer, said: “This is another set of consistently strong results for Boots.

“I am pleased to see our positive momentum continue across the whole business, with both retail and healthcare increasing sales and a 13th consecutive quarter of market share growth.

Despite a sales slump in the US, Boots in the UK has seen its retail performance improve PA IMAGES

“We continue to focus on making exciting new brands and services accessible whilst focusing on value and rewarding loyalty.

“We are committed to delivering a fantastic experience for customers however they shop with us.”

Around 14,000 shops and outlets were shut down and left high streets, shopping centres and retail parks in 2023, according to PwC, which comes to 39 store closures per day.

A Boots spokesperson told GB News: “A small number of stores are set to close over the coming months as part of a store consolidation programme previously announced in June 2023.”