Waitrose unveils rise in first-quarter sales
Waitrose achieved an 11.1 per cent rise in first-quarter revenue buttressed by a 50.1 per cent surge in online sales growth.
Waitrose achieved an 11.1 per cent rise in first-quarter revenue buttressed by a 50.1 per cent surge in online sales growth.
The upmarket UK grocer flew in the face of the challenging economic conditions as customers flocked to their website to make purchases.
The supermarket, owned by John Lewis Partnership, said results were driven by existing stores as only one new store opened in the period.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Finance Director Tom Athron said its prices now match rival Tesco on more than 7,000 items per week.
Customer transactions were up 8.4% and for the first time more than five million customers visited its stores per week.
"In a challenging economic climate, these figures are testimony to the efforts of each and every Partner to drive our growth," he said.
As the weather heated up in April, shoppers stocked up on food and drink more typical of summer months. Salad sales rose 27% and ice cream jumped 21%.
Customers also stocked up on sun cream to send suncare sales soaring 158%.
RD
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published