Waitrose Sales Up Marginally With Private Label Promotions
UK retailer Waitrose has announced that total sales last week, excluding fuel, were up by 1.1% compared to the same period in 2016.
The retailer says that sales were boosted by its half price event, and by the launch of a long-term promotional campaign for its 'essential Waitrose' private label range, which aims to 'highlight the value and quality' of the products.
Many 'essential Waitrose' products experienced a strong growth in sales last week, such as baked beans (+135%), tinned tomatoes (+68%), and croissants (+138%).
Waitrose notes that the cooler weather compared to a warmer period last September has led to increased sales of soup (+25%), while the return of television programme the Great British Bake Off has caused an increase sales of baking ingredients (+13%) and butter (+17%).
Last week, Waitrose parent company John Lewis Partnership reported that sales at the supermarket chain were up by 2.3% to £3,324 million in the first half of 2017, however, operating profit fell by 8.5% to £88.1 million.
Sir Charlie Mayfield, chairman of John Lewis Partnership, said that this represents a "solid performance in a difficult market", and added that the Christmas season will be an important time for the retail business.
"We are well set for our all-important seasonal peak, but we expect the headwinds that have dampened consumer demand and put pressure on margins to continue into next year," said Mayfield.
"Our full year profits will depend, as they always do, on the final quarter which typically accounts for well over half of our profits before exceptional items."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.