Another successful year for Waitrose

Waitrose has reported a 3.4% increase in like-for-like sales today, as its parent company, John Lewis Partnership, celebrated vast growth rates by awarding its staff with 17% bonuses.

The retailer has invested in "lower prices, unwavering commitment to product quality and high standards of customer service", which has been a contributing factor to the growth rates.

In the past year, Waitrose’s success has seen the retailer opening 19 new branches and launching 4,700 new and improved products. Additionally, its online sales grew by 49%.

Gross sales for Waitrose were up 6.7%, its revenue up 6.8% and operating profits resulted in a 12.2% increase.

Chairman of John Lewis Partnership Charlie Mayfield commented: "This has been a good year for the Partnership with growth in sales and profit above our expectations."

He added: "Both Waitrose and John Lewis gained market share for what is now the fourth consecutive year. As a result, I am delighted that 84,700 partners will receive a bonus of 17%, equivalent to nearly nine weeks’ pay."

He expects the sales growth to continue this year and is currently planning a "significant step up" in total investment.