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.
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
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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will fintechs change the way you invest?: MoneyWeek TalksPodcast MoneyWeek's digital editor, Kalpana Fitzpatrick, speaks to Revolut Trading CEO Yana Shkrebenkova about how fintechs are changing the way people approach investing.
-
Six steps business owners should consider before April inheritance tax relief changeNew limits to inheritance tax-free allowances are coming in from the Spring that affect business owners. Those looking to sell or transfer their assets into a trust before the changes need to act now
