Superdrug annual sales rise despite inflationary pressures - Indoors Beauty

Superdrug annual sales rise despite inflationary pressures

Superdrug annual sales rise despite inflationary pressures

Superdrug has reported its monetary outcomes for the 52 weeks ending 31 December 2022, highlighting its continued restoration from the results of COVID-19 despite inflationary pressures including new challenges. 

The well being and wonder retailer noticed sales improve 17% to £1.4 billion, in comparison with £1.2 million the earlier yr. This was boosted by “robust” Christmas buying and selling on the finish of the monetary interval.

Profit earlier than tax was up 71.7% to £77.8 million, pushed by the easing of COVID-19 restrictions and the next improve in footfall on the excessive road.

However, Superdrug mentioned inflationary pressures had been “more and more evident” because the yr progressed, with the Ukraine disaster named as one of many main elements contributing to issues concerning the rising cost-of-living disaster within the UK.

The monetary yr noticed the retailer refurbish and prolong numerous present retailers. It additionally opened 11 new shops, primarily situated at retail parks – a section that “continues to carry out forward of expectations”.

In addition, Superdrug re-platformed its on-line operations as a “central pillar of its omnichannel strategy”. Whilst the return to bodily shops impacted e-commerce, sales volumes on-line continued to trace “considerably forward” of pre-pandemic ranges.

The retailer’s Health & Beauty Card buyer loyalty programme remained “pivotal” to its engagement with prospects. Sales from members elevated, supported by the introduction of “member solely” costs.

Superdrug’s own-brand providing continued to carry out properly, while 2022 additionally noticed the profitable launch of premium perfume.

Read TheIndustry.magnificence’s interview with Superdrug’s Head of Own Brand, Emma Monaghan.

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