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Boots UK pharmacy sales grew five per cent in the three months to February compared to previous benchmarks, the company’s latest figures reveal – while its US sister company suffered an operating loss of $2.3bn.

In the first set of quarterly results to be published since the March 6 announcement of Walgreens Boots Alliance’s acquisition by private equity, WBA revealed that Boots pharmacy sales were up five per cent during the company’s second trading quarter compared to the same period a year ago. 

Meanwhile, Boots retail sales rose 5.1 per cent year-on-year “with growth across all categories” and online sales – which now account for a fifth of all products sold – rose by 19.5 per cent.

The international segment of the WBA business in which Boots sits suffered a 4.7 per cent loss in operating income, which the company said reflected higher payroll costs and other inflationary pressures.

This was “partially offset by strong retail performance in Boots UK and market growth in Germany,” said WBA.

Despite its hefty operating losses during the quarter, the struggling US-based Walgreens chain saw sales rise by 5.3 per cent to $30.4bn. Pharmacy sales grew 8.9 per cent while retail sales slumped by 5.5 per cent, due in part to a disappointing cough, cold and flu season in America. 

WBA chief executive Tim Wentworth commented: “Second quarter results reflect disciplined cost management and improvement in US Healthcare, which were partially offset by weaker front-end results in US Retail Pharmacy while significant legal settlements resulted in continued negative free cash flow.

“We remain in the early stages of our turnaround plan and continue to expect that meaningful value creation will take time, enhanced focus and balancing future cash needs with necessary investments to navigate a changing pharmacy and retail landscape.” 

Because WBA is in the process of being acquired by equity firm Sycamore Partners, the usual quarterly results call with the company’s investors will not take place. 

“The merger is expected to close in the fourth quarter of calendar year 2025, pending shareholder and regulatory approvals and other conditions to closing,” the WBA statement added.