Waitrose has recorded a significant increase in profit and customer growth for the first half of the year, marking a notable period of success for the supermarket.
- The grocer’s adjusted operating profit rose by £75 million, reflecting a successful performance for the 26 weeks ending 27 July.
- Sales at Waitrose increased by 5%, with a 2% rise in both volume and average item price.
- Customer numbers grew by 300,000, marking the tenth consecutive quarter of growth and contributing to a record availability rate of 96.5%.
- Chief Executive Officer Nish Kankiwala attributed the impressive results to their ongoing transformation plan, which is showing positive signs of progress.
Waitrose has delivered a robust performance in the first half of the year, reporting an adjusted operating profit increase of £75 million for the 26 weeks ending 27 July. This notable fiscal achievement underscores the effectiveness of the company’s ongoing strategic initiatives.
Sales at Waitrose edged up by 5%, driven by a 2% increase in both volume and average item price. These figures illustrate a strong consumer response in a competitive retail environment.
Notably, the grocer experienced its tenth consecutive quarter of customer growth, adding 300,000 more shoppers. This milestone highlights a continued trend of customer loyalty and brand strength. The record availability rate of 96.5% further supports this growth.
John Lewis Partnership Chief Executive Officer Nish Kankiwala expressed confidence in the results, stating they ‘confirm’ the success of the transformation plan. He anticipates continued profit growth for the year, marking substantial improvement from two years prior.
The company’s strong performance is bolstered by strategic initiatives, including collaborations with notable brands and store refurbishments. These efforts have positioned Waitrose well for a positive peak trading period, with further plans to improve full-year performance.
Waitrose’s strategic efforts and customer-focused initiatives have markedly strengthened its financial performance and market position.
