Profit margin fall, blamed on Covid-19 effects, drags global firm to $3m quarterly loss
Sales at Boots slumped nearly 30% in the three months to the end of August as shoppers stayed away from town centres and picked up health goods at supermarkets instead.
Over the three-month period, the UK retailer has lost share in every market in which it operates, except for beauty. Shoppers shunned its stores and opted to pick up pain relief, shampoo and soaps at the same time as their groceries, driven by fears of catching Covid-19.
