Yahoo Finance Superdrug boss hails “tremendous” Christmas trading
High street chain Superdrug has delivered one of the strongest Christmas trading updates seen so far with like for like sales up 16% in December.
Britain’s second biggest health and beauty retailer after Boots said it benefitted from rhe return to “bricks and mortar” shopping after the pansdeic with a particularly strong performance from fragrance, cosmetics and “beauty services” such as piercing. Cosmetic sales were back at pre-Covid levels,
The strong figures provide further evidence that retail enjoyed a better than expected end to the year with most big players reprting healthy increaases in nominal sales, albeit at a time of high inflation. They come ahead of official retai lsales data from the Office for National Statistics (ONS) tomorrow.
Superdrug, which has more than 800 UK stores and is owned by A.S Watson, part of the Hong Kong conglomerate CK Hutchison, said footfall was higher in December with average weekly transactions 19% above the level of 2021. Sales of the retailer’s Own Brand ranges were up 20% in December following a price freeze on 5,000 popuklar lines earlier in the year.
Superdrug CEO, Peter Macnab commented: ‘We are delighted to say that we had a tremendous Christmas at Superdrug. Our commitment to accessibility means that customers continue to come to us for the very best in high street value, at a time when affordability really matters.
“Our continued investment in stores, market-leading digital progression and innovation in Own Brand has driven increased sales and market share growth. I’d like to thank all of my colleagues for all of their hard work in bringing such a fantastic and competitive offering to shoppers.”
