Jul 4, 2017

Superdrug profit soars boosted by Kim Kardashian connection

Refurbished stores and products championed by celebrities such as reality TV star Kim Kardashian helped high street chain Superdrug lift revenues and post a jump in profit for last year. The health and beauty retailer, owned by Chinese group AS Watson, said on Tuesday that pre-tax profit rose 41 per cent to £80.4m. This was on the back of like-for-like sales growth of 7.8 per cent in the 53 weeks to December 31. Cosmetics sales rose 14 per cent and achieved a market share of 30 per cent for the first time, the company said. Revenues were £1.2bn, up 10 per cent on a year earlier, as the chain opened 23 stores, bringing the total in the UK and Ireland to 789. The horizon darkened in May, when official data showed the slowest rate of retail sales growth for four years and the inflation rate jumped to 2.9 per cent.

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