Waitrose has experienced a sales increase of 6.8 per cent this year, taking the food retailer’s total sales up to just under £4 billion, according to the John Lewis Partnership’s end of year results.
Termed as a “successful year” by the partnership, the year ending January 26, 2008 left the partners of the business with a bonus payment of £181.1 million - equal to more than 10 weeks’ pay and an 18 per cent increase on last year’s bonus.
Waitrose sales have grown by 47 per cent in four years, with its market share increasing each year to its current level of 3.9 per cent. Waitrose’s share of the UK organic market stands at more than 18 per cent, while its market share for Fairtrade items is 8.6 per cent, with an associated increase in sales in this area of 16.3 per cent year on year - significantly in excess of growth in the overall Fairtrade market.
Waitrose believes that its achievements in product quality are directly related to its long-term relationships with farmers and suppliers, and its commitment to support British farming. “In the face of challenges like foot-and-mouth disease and bluetongue, our supply chain was robust with excellent availability,” stated the results’ report.
Both Waitrose and John Lewis performed strongly this year, growing overall market share and strengthening our position in key product categories. The partnership is planning to grow the businesses and reach more customers. It will invest in new shops, the development of its online business, and in the systems and infrastructure needed to support a larger business. It expects the number of partners in the business to increase by 16,000 to 85,000 over the next five years to support the partnership’s growth.
Charlie Mayfield, chairman of John Lewis Partnership, said: “The partnership has had a successful year in a challenging trading environment. The key to our success is the commitment of our partners, who consistently deliver the customer service and professionalism that underpins our reputation for value, choice, quality and honesty.
“While we expect trading conditions to continue to be challenging in the year ahead, we are confident that the diversity of our business and our partnership model makes us resilient and able to perform well, even in the most testing market conditions. We are committed to the growth plans for our business and I am confident that we can deliver our long-term plans.”
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