For the fi
rst time in over five years Waitrose's underlying sales have fallen.
This may be an indication that the upper-crust supermarket chain is feeling the pressures of the wider industry.
Total sales for the week ended 5 July (excluding petrol) fell by 0.4 per cent from a year earlier, the John Lewis-owned grocer said.
David Jones, Waitrose's supply chain director, said:
"Last week, Waitrose was trading against an exceptional week's performance in the previous year, which saw the start of the summer heatwave and Andy Murray's Wimbledon success."
Mike Dennis, an analyst at the stockbroker Cantor Fitzgerald, believes a single week's figures do not mean Waitrose's outstanding performance has ended, but rather he argued that the chain's sales had been in fact sliding since May. He expects at least another two weeks of negative statistics. He said:
"It's not a factor of last year being a particularly strong period though in their defence this time last year every single week in June and July was very warm and there was a big celebratory mood. All things being equal, it's not until we get to the end of July that they are going to see a better figure."
rst time in over five years Waitrose's underlying sales have fallen.This may be an indication that the upper-crust supermarket chain is feeling the pressures of the wider industry.
Total sales for the week ended 5 July (excluding petrol) fell by 0.4 per cent from a year earlier, the John Lewis-owned grocer said.
David Jones, Waitrose's supply chain director, said:
"Last week, Waitrose was trading against an exceptional week's performance in the previous year, which saw the start of the summer heatwave and Andy Murray's Wimbledon success."
Mike Dennis, an analyst at the stockbroker Cantor Fitzgerald, believes a single week's figures do not mean Waitrose's outstanding performance has ended, but rather he argued that the chain's sales had been in fact sliding since May. He expects at least another two weeks of negative statistics. He said:
"It's not a factor of last year being a particularly strong period though in their defence this time last year every single week in June and July was very warm and there was a big celebratory mood. All things being equal, it's not until we get to the end of July that they are going to see a better figure."
