Boots drags its heels as Walgreens races ahead

Business

Falling beauty sales in Britain have been blamed by the owner of Boots for its disappointing international performance.

Comparable sales at the retail pharmacy international division of Walgreens Boots Alliance, which includes Boots UK, fell by 3.4 per cent in the fourth quarter compared with the year before as revenue dipped 1.9 per cent to $2.9 billion.

Boots became part of Walgreens Boots Alliance in 2014 when Walgreens, of the United States, took over the Anglo-Swiss Alliance Boots. The group has more than 18,500 shops in 11 countries and employs about 415,000 people. It owns beauty brands including No7, Liz Earle, Soap & Glory and Botanics.

The $73 billion retailer was promoted to the heavyweight Dow Jones industrial average index of 30 leading companies in…

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