Waitrose sales growth of 13 per cent is being given the credit for a strong full-year performance by the John Lewis Partnership - and unveiled its first Scottish store.
The John Lewis Partnership has announced a 10 per cent rise in profits to £252 million in a year when many top high-street names failed to shine. Trading has continued to be strong in the first five weeks of the current year.
The announcement of its results was also used mark the acquisition of five stores, including two in Edinburgh, which heralds the entry of Waitrose supermarket chain into the Scottish market.
Group sales were up eight per cent to £5.8bn, although turnover at John Lewis department stores rose just two per cent. Waitrose was also the main contributor to group profits, reporting a 19 per cent rise on its own bottom line.
Partnership chairman Stuart Hampson said in a statement: "Looking ahead, whilst there is every indication that this year will continue to be a tough one and that retailing in 2006 will not be for the faint-hearted.”
