Waitrose has unveiled ambitious plans to double its sales to £8 billion over the next decade, according to new managing director Mark Price.
The supermarket group is preparing to expand organically, following several years of rapid acquisitions. The plan is to boost sales from the current figure of £3.7bn to £8bn by 2017.
Waitrose operates 183 stores, but Price is planning a major review of the firm’s sales operations and store formats, with city insiders speculating that this could lead to a launch of a convenience store banner, possible Waitrose food and home outlets and expansion of its online offer.
Price took the helm last week, following the departure of Steve Esom to head up Marks & Spencer’s food division.
Waitrose has undergone a period of rapid growth in recent years, from 116 stores in 2000 to 165 four years later. But now Waitrose wants to put organic growth back on the agenda and restart its store-opening programme.
Price told a Sunday newspaper: “We recognise that there are 6 million people who want to buy from Waitrose but do not have access to a store, so we will be looking at our options.”
Under his leadership, Waitrose is to focus on maintaining and further improving the quality of its food ranges and customer service.
“Although our rivals are expanding their non-food ranges, Waitrose is a food shop that sells food, so this will be our primary focus,” Price added.
No comments yet