Mark Price, Waitrose chief executive, has said he expects the retail sector to be in good shape by the end of next year, despite the recession.
Price said the company is a “long-term business” and that it will be stronger when the economic downturn ends, reports the Daily Mail.
He was speaking as the firm opened its first convenience store in Nottingham this week.
Price said he will go ahead with plans to try and double the retailer’s revenues to £8bn by 2017.
This week’s TNS figures suggest Waitrose, in the 12 weeks to 12 November, saw sales dip 0.7% compared to the same period last year.
Nielsen also revealed Waitrose witnessed a 0.9% sales decline in the 12 weeks to 29 November.
