Walgreens says beauty products helped boost June sales
US retailer Walgreens said that its sales across the US in June were boosted by a rise in demand for cosmetic and personal care products, giving more credibility to claims that the outlook is improving for the sector.
Sales of non-pharmacy products, which also includes food, rose by 2 percent for the month, a significant rise for a category that has bounced between stagnation and negative growth in the last 18 months.
The figures topped the 1.7 percent figure expected by financial analysts, and also sent Walgreens' shares on the up in early morning trading yesterday.
In total Walgreens' sales for the month were up 8.4 percent for the month to $5.67bn, a figure that was attributable to growth of 6.8 percent in its mainstay pharmacy sales.
Walgreens is one of the leading retailers for color cosmetics and hair care in the US, and has comprehensive nationwide coverage from its Walgreens and Duane Reade drug stores.
