Waitrose to open 100 new convenience stores in £1bn investment drive

(Sharecast News) - UK high-end supermarket chain Waitrose its ramping up its brand investment plans, injecting £1bn to open up to 100 convenience shops and upgrade a number of existing supermarkets over the next five years. "The convenience store will trigger one of our biggest periods of expansion as we look to reach more customers having served a record 15 million last year," Waitrose said in a statement on Wednesday.

The company, which is part of the John Lewis Partnership group, also announced plans to open a new supermarket in Hampton Hill later this year - its first new store in six years.

Waitrose's investment programme includes the upgrade of its John Barnes shop in London's Finchley Road, following the recent makeovers of stores in Sudbury and Maidenhead.

The refurbishment of these larger stores will mark "the next evolution of our shop proposition" and be used to trial new services, product range and concepts over the next 12 months before a new portfolio-wide "blueprint" is unveiled next year.

"Waitrose will always offer fantastic food, but the groundwork we have undertaken behind the scenes in recent years means we can now focus on growth through new shops and ensuring our existing ones are providing great shopping experiences that match the quality of our products," said Waitrose's executive director James Bailey.