Boots now bouncing back from the pandemic, says chain’s American owner

Boots’ American owner said the UK’s biggest chemist is roaring back from the pandemic – days after its sale fell through.

Walgreens Boots Alliance said the High Street pharmacy chain was ‘good enough’ to hold onto as it highlighted bumper sales over the spring.

The chemist’s sale to India’s Reliance Industries and US private equity giant Apollo Global fell through on Tuesday as global market turmoil made financing the deal more costly and difficult.

Recovery: Walgreens Boots Alliance said the High Street pharmacy chain was ‘good enough’ to hold onto as it highlighted bumper sales over the spring

Boots managing director Seb James promised ‘significant investment in both our digital platforms and in our stores’ to spur further growth. 

Sales in the three months to May 31 were 13.5 per cent higher than a year earlier, despite the rising cost of living. 

Shoppers flocked back to shops after the easing of Covid restrictions, with in-store sales up 24 per cent.

Boots was boosted by sales of its beauty products, which include the UK’s leading skincare brand No7.