Uncertainty for Boots the Chemist staff after closure warning but Peterborough expert says it's not all gloom

Confidence among retailers might have been dented by Boots the Chemists’ plans to shut 300 stores but a Peterborough academic says there are reasons for optimism.

The pharmacy giant is considering the closure of stores in cities and towns where it has two or more outlets in close proximity.

And Peterborough is homes to four of its stores – in the Queensgate Shopping Centre, the Serpentine Green Shopping Centre and the Bretton Centre and Rightwell East Bretton.

They are among 2,200 stores nationally with Boots looking to reduce that number to 1,900. It has not provided details of where the closures will take place.

The closure programme was announced by Walgreens Boots Alliance, the US owners of the pharmacy chain.

But its quarterly results show the chain’s retail sales rose by 13.4 per cent in the three months to the end of May compared to 2022.

Dr Cheryl Greyson, a senior lecturer in business at ARU Peterborough, said: “National statistics are telling us retailers are still under pressure as consumer confidence remains low.

"But we are seeing a more positive story for fashion and beauty stores.

"Despite news of Boots continuing to rationalise their branches and opening hours, they are doing very well and are focusing on delivering their own-brand products, delivering great customer service, and updating their stores.”

In the face of rising costs and the falling spending power of customers, Dr Greyson said retailers can act to improve sales.

She said: “Local shops could consider good value mood boosting offers to increase demand during the summer.

"For example, there is a wonderful pop-up store called Unity on the ground floor of Queensgate replacing Paperchase which is sure to put a smile on your face! They even ring a bell when you make a purchase.

"This kind of innovation and quirky independent stores will help Peterborough to become a popular shopping destination.

"And this is supported by really good innovations around public transport such as the current £2 bus ticket offers funded by The Bus Fare Cap Grant scheme.

She added: “The long-term projection for Peterborough continues to look positive as we enjoy new investment into the city, and from our perspective at ARU Peterborough, growing the student economy.”