Holland & Barrett reports surge in full year sales
Holland & Barrett has said its transformation strategy is delivering strong results as it announced that its sales increased by 11% to £806.1 million in the year to 30 September 2023.
The health and wellness retailer said the uplift was driven by a £70 million investment in its stores, technology and new product development.
All geographic divisions delivered growth, including China, Saudi Arabia and India.
Meanwhile, gross profit rose to £475.7 million from £443.9 million in the prior year.
However, EBITDA fell to £81.9 million from a previous £105.6 million following the impact of the implementation of an accounting policy change and investment in the retailer’s growth strategy.
Holland & Barrett said it recorded its highest ever scores for customer satisfaction in the period, including for the checkout experience, colleague friendliness, and value for money.
The retailer’s executive chair Alex Gourlay said: “There has been a clear shift in recent years in public perception of health and wellness, with focus shifting to preventive rather than reactive care, and people increasingly wanting to own and manage their individual health.
“To meet this shift, we are transforming the Holland & Barrett business: to deliver health and wellness that is easily accessible to customers in the UK and in our core international markets.”
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Giving an update on its performance in the eight months to May 2024, Holland & Barrett said sales and gross profit both grew by 11% in the period. UK sales were also increased by 11% as international sales climbed by 48%.
Gourlay added: “We have made ambitious plans to invest further in technology, training and new product and service innovations to provide customers with qualified advice.
“We are focused on our vision to be the trusted partner for 100 million people globally, and excited for our next stage of growth.”
Holland & Barrett has recently announced a partnership with Next in which it will launch three new “store within a store” concessions in Next shops this summer.
