Waitrose Opens First New Supermarket in Eight Years
Waitrose is launching a £1bn investment plan starting with a new London supermarket and a company-wide union recognition deal with Usdaw.
Waitrose opened its first new supermarket in eight years in Cricklewood, north London, on Thursday. The launch marks the start of a £1bn investment plan led by CEO Tom Denyard, which includes a second supermarket in Hale Barns, Greater Manchester, next month and four smaller stores in Oakham, Bedminster, Chalk Farm, and Springstead Village next year. The company also intends to refurbish 29 stores this year.
Financial results for the six months ending August 1 show a mixed performance. While sales increased by 4%, underlying operating profit dropped by £7m to £103m, impacted by high energy costs, loyalty scheme enhancements, and price reductions. The parent company, the John Lewis Partnership, reported a pre-tax loss of £98m for the same period.
In a shift toward worker representation, the John Lewis Partnership signed its first company-wide union recognition deal with Usdaw. The agreement aims to strengthen the union's presence and support for members across the partnership.
