Telegraph - March 27, 2004
UK Retailing giant Boots has warned investors that next year's profits will be hit by a larger-than-expected store investment program and rising pension charges. Boots, which has 1,400 drug stores in the UK, disclosed margins had fallen 30 basis points as the group has struggled to compete against supermarkets.
At their recent press briefing Richard Baker, who has been the chief executive of Boots for six months, refused to dismiss rumours of plans for a GBP 1 billion sale and leaseback of the group's freehold property: "We are not commenting on that at all."
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Saturday, March 27, 2004
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