Waitrose & Partners Company Profile
Background
Waitrose & Partners is a British supermarket chain founded in 1904, known for its commitment to quality, sustainability, and customer service. As part of the John Lewis Partnership, an employee-owned business, Waitrose operates 329 stores across Great Britain and the Channel Islands, including 65 convenience shops. The company exports products to 52 countries and has a presence in the Middle East. In the fiscal year ending January 2024, Waitrose reported revenues of £7.7 billion and an operating income of £1.1 billion.
Key Strategic Focus
Waitrose focuses on providing high-quality, responsibly sourced products and exceptional customer service. The company emphasizes sustainability, ethical sourcing, and community engagement. In August 2024, Waitrose announced a £1 billion investment over three years to open up to 100 convenience stores across the UK, upgrade existing shops, and enhance unique features that differentiate it from competitors.
Financials and Funding
In the fiscal year ending January 2024, Waitrose reported revenues of £7.7 billion and an operating income of £1.1 billion. The company has committed to investing £1 billion over three years to expand its convenience store network and refurbish existing locations.
Pipeline Development
Waitrose is focusing on expanding its convenience store network, with plans to open up to 100 new stores across the UK over the next five years. The first new store in six years is scheduled to open in Hampton Hill, southwest London, later this year, followed by another in Greater London early next year, subject to planning approval.
Technological Platform and Innovation
Waitrose has embraced digital innovation to enhance the customer experience. The company's online grocery service, Waitrose.com, has seen significant growth, particularly during the COVID-19 pandemic. The Waitrose & Partners app allows customers to shop online, book delivery or Click & Collect slots, and access personalized shopping recommendations.
Leadership Team
In September 2024, Jason Tarry, a veteran of Tesco, succeeded Dame Sharon White as chair of the John Lewis Partnership, which includes Waitrose. Tarry's extensive experience includes serving as CEO of Tesco UK and Ireland.
Competitor Profile
Market Insights and Dynamics
The UK grocery market is highly competitive, with major players including Tesco, Sainsbury's, Asda, and Morrisons. Discounters like Aldi and Lidl have also gained market share, with Aldi overtaking Morrisons to become Great Britain's fourth-largest grocery retailer in September 2022.
Competitor Analysis
- Tesco: The UK's largest supermarket, with a market share of 28.5% at the start of 2025.
- Sainsbury's: A major competitor in the UK grocery market.
- Asda: A significant player in the UK grocery sector.
- Morrisons: A key competitor in the UK market.
- Aldi: Became Great Britain's fourth-largest grocery retailer in September 2022.
- Lidl: A discounter that has gained significant market share in the UK.
Strategic Collaborations and Partnerships
Waitrose has partnered with Yotam Ottolenghi to stock his sauces, pastes, and spice blends, contributing to the retailer's improved performance.
Operational Insights
Waitrose differentiates itself by focusing on quality, sustainability, and customer service. The company has faced challenges from discount retailers and changing consumer behaviors but continues to invest in its store network and digital capabilities to maintain its premium positioning.
Strategic Opportunities and Future Directions
Waitrose's strategic roadmap includes expanding its convenience store network, enhancing its online presence, and investing in store refurbishments to attract a broader customer base. The company's commitment to quality and sustainability positions it to capitalize on consumer trends favoring ethical and high-quality products.
Contact Information
Waitrose & Partners operates 329 stores across Great Britain and the Channel Islands, including 65 convenience shops. The company exports products to 52 countries and has a presence in the Middle East.
