Waitrose will focus on generating additional growth from its existing portfolio this year, with six stores earmarked for major extension and a planned refurbishment programme for 72 outlets.
Speaking to The Grocer after the retailer announced annual sales up to £3bn this week, MD Steven Esom said: “There is room for more growth in our existing stores and we also hope to grow five to six per cent per annum in floorspace.”
Six new stores will open in 2005 and a sixth Food and Home, in Kent, is also planned for 2007.
Sales rose 10% in the year to 29 January 2005, with trading profit up 10% to £193m due to the acquisition of 19 stores from Morrisons. Esom said core shops had also performed well, shown in like-for-like sales growth of 3%, with fresh food performing particularly strongly.
Waitrose’s focus on quality was appealing to the ever-more-demanding consumer, he added. “It
is clear that consumers are now looking at who they shop with and looking at the relationship between price and quality.”
The retailer also focused on lowering prices by making the business more efficient, Esom said.
Waitrose has seen like-for-like sales increase by 5% in the first five weeks of this year. Plans for 2005 include continuing to extend grocery range, improving supply chain and store efficiency and implementing in-store IT to improve availability.
Speaking to The Grocer after the retailer announced annual sales up to £3bn this week, MD Steven Esom said: “There is room for more growth in our existing stores and we also hope to grow five to six per cent per annum in floorspace.”
Six new stores will open in 2005 and a sixth Food and Home, in Kent, is also planned for 2007.
Sales rose 10% in the year to 29 January 2005, with trading profit up 10% to £193m due to the acquisition of 19 stores from Morrisons. Esom said core shops had also performed well, shown in like-for-like sales growth of 3%, with fresh food performing particularly strongly.
Waitrose’s focus on quality was appealing to the ever-more-demanding consumer, he added. “It
is clear that consumers are now looking at who they shop with and looking at the relationship between price and quality.”
The retailer also focused on lowering prices by making the business more efficient, Esom said.
Waitrose has seen like-for-like sales increase by 5% in the first five weeks of this year. Plans for 2005 include continuing to extend grocery range, improving supply chain and store efficiency and implementing in-store IT to improve availability.
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