Yesterday, Superdrug has released its financial report of 2024. It is reported that the health & beauty retailer’s revenue climbed to £1.634 billion, marking a 7% rise from £1.528 billion the previous year. Operating profit jumped to £144.2 million from £121.9 million and profit before tax reached £136.8 million from £111.6 million. The final figure, net profit, was £103.5 million, up from £83.2 million. This growth was bolstered by strategic initiatives aimed at enhancing both in-store and online customer experiences.
Despite subdued retail footfall throughout the year, Superdrug achieved a 7% increase in sales, building on a 12% rise in 2023. The retailer said that it showed resilience in both its stores and online channels and as far as those stores were concerned, it opened a number of new ones as well. It has kept up a steady opening programme for several years and after opening 14 in 2023 it opened 13 in 2024. According to Superdrug’s official website, the company operates over 800 O+O (offline and online) stores across the UK and Ireland, making it the second-largest beauty and health retailer in the UK.
Directors said that the business had “a strong financial period…despite UK retail footfall being subdued all year”, adding that “the company showed resilience to grow sales in its retail stores and online channels”.
“Total sales continue to be supported by the opening of new stores as well as the ongoing refurbishment programme of existing stores”, the document said.
And it noted that the “continued pressure on consumers’ disposable income, coupled with fluctuating consumer confidence, means that Superdrug’s promotion-led offering and everyday low prices on own-brand products continues to be attractive”.
Online, Superdrug capitalized on improved website usability and the launch of a revamped mobile app, complemented by customer-centric delivery options such as a 30-minute click & collect service. These enhancements played a pivotal role in driving online sales and enhancing overall customer satisfaction.
