Waitrose takes knock following investments and cuts


Prices have been cut at Waitrose by John Lewis Partnership, it said, in a bid to shore up its market position during a difficult trading climate.

Waitrose

In the opening six months of the year, Waitrose sales increased by 5.5% to stand at £2.03bn, but operating profit fell 8.4% to £102.7m.

These figures come as rival Morrisons posted pre-tax profits for the six months to 3 August of £295m.

Chairman at John Lewis Partnership Charlie Mayfield said that confidence has gradually dwindled among consumers in the past year with the credit crunch now taking hold.

He added that a number of changes have taken place at the company’s Waitrose arm, so that more options are available to the man on the street.

“Waitrose has invested in strengthening its customer offer – further improving the quality of our products, introducing new, innovative ranges and investing in price and customer service,” he said.

Overall profits at John Lewis dipped by 27% to £108m over the studied time until 26 July.

The were released as managing director at Waitrose Mark Price claimed the chain actually undercuts Aldi on some groceries.

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