John Lewis' 62% profits soar offsets poor Waitrose first half results
Waitrose’s profits dropped by 9.4 per cent during the first half of the year, despite a 4.1 per cent lift in gross sales to £3.15bn.
Additionally, the supermarket pulled in an average 670,000 more weekly customer transactions and noted a 51 per cent increase in online sales.
Sir Charlie Mayfield, chairman of Waitrose’ parent company John Lewis Partnership, said that the performance was delivered in a period of “significant structural change for UK food retail.”
“The decline in profit was mainly as a result of the substantial levels of investment made across the business and, to a lesser extent, the tough Read full story ›
Source: The Drum
