Superdrug’s profit skyrocketed past £100m last year as customers flocked to its stores to snap up its member-only deals and own-brand products.
Pre-tax profits soared 43% to £111.6m in the year to 30 December, up from £77.8m as sales rose 12% to £1.53bn, boosted by a 12.5% surge in store performance.
Market share also grew for the third consecutive year rising to 10.6%, versus the 8.9% market share held in 2020, driven by strong retail store performance, increased sales volume and continued own brand growth.
CEO Peter Macnab said :”As inflation continued to put pressure on households, at Superdrug we’ve invested heavily to keep our prices competitive and help families keep costs down.”
The retailer opened 14 new stores last year, including in Manchester’s Trafford Centre and London’s Brent Cross Shopping Centre. While last month it opened the doors to its biggest UK store in Westfield Stratford, London.
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It’s investment into refurbishing and extending existing sites, alongside new stores, saw Superdrug create more than 400 jobs – taking the total number of employees to 13,845.
Macnab added: “Our vision is to be the UK’s leading accessible health & beauty retailer with high quality, affordable products at the heart of everything we do.
“Our financial results demonstrate the trust that customers are continually putting in us and I would like to thank our colleagues for their ongoing hard work and commitment and for living and breathing our vision every day.
“Over the last year, we’ve continued to invest into our store estate to provide customers with best-in class shopping experiences. The strong store sales growth gives us the confidence that our strategy is working, and new stores are being welcomed by customers and the local community.”
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