Waitrose's revenue grew 8.3% to £3.4bn in the first half of the year to 25th July 2020, alongside double digit profit growth. However, John Lewis' negative sales and profit performance continue to have a dilutive impact on the Partnership's results.
Robust grocery performance
Waitrose's like-for-like sales rose 9.6%, whilst the retailer also reported a healthy trading profit improvement of 10.6% to £586m.
A continued focus on profit is vital, and alongside John Lewis store closures in H1, the Partnership is also closing three Waitrose branches (Caldicot, Ipswich Corn Exchange and Shrewsbury) in early December. It is selling a fourth store (Wolverhampton) to Tesco.
Waitrose.com: a £1bn business
As well as serving more customers, Waitrose.com continues to benefit from larger average basket sizes, which are now four times bigger than in-store. The business is delivering 170,000 orders per week, up from 60,000 before the pandemic. Waitrose reaffirmed its commitment to accelerating growth in this area, with ambitious plans to serve 250,000 weekly orders underpinned by expanding capacity.
Read more about Waitrose's latest online activities:
Strategy update in October
Chairwoman Sharon White outlined new strategic priorities for the Partnership back in July. A further update on these is now expected later in the autumn.
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