Boots owner says 'everything is on the table' amid talk of £7bn listing

Boots managing director Seb James previously headed public retailer Dixons Carphone before it was renamed Currys. Photo: REUTERS/Hannah Mackay

Mr James said: “I'm really encouraged by how people are responding to the changes we've made, particularly in our digital and beauty businesses.

“It’s great to see market share growing for the eleventh quarter in a row, showing that more customers are choosing Boots.”

Boots also signaled that trading in the run-up to Christmas is expected to be higher than last year.

The positive figures highlight the rift within the Walgreens Boots Alliance as the conglomerate struggles to improve its fortunes in the US.

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The company has reduced its expenses. The quarterly dividend was halved to $0.25 (20 pence) per share on Thursday.

Executives said the move would help free up cash for investment in the business and paying down debt.

Asked about the company's future, Mr Wentworth said: «It's all about delivering greater shareholder value.»

The group, which also operates the Walgreens pharmacy chain in the US, reported an operating loss of Sales were $39 million in the first quarter, an improvement from the $6.2 billion loss recorded in the same period last year.

Sales rose 10% to $36.7 billion, helped by increasing prescription rates and price inflation for brand-name drugs in the United States. US.

Mr Wentworth said Walgreens would have a «sharp focus» on its pharmaceutical division in the US.

He said the company was on track to meet its cost savings target $1 billion in funds this year. The company has taken a number of measures this year, including store closures.

As of June this year, Boots had 2,200 stores across the UK, but management aims to reduce that number to 1,900 by the summer.