Waitrose recently posted group sales of £4.5bn in the year to the end of January, a 25% increase over the past two years. Operating profits for the year were £268m, while sales in the first half of this year rose by 12%. The Delia and Heston ad campaign reportedly delivered an extra 370,000 in its first eight weeks alone.
This move will be the first time the upmarket chain has adopted price-matching tactics associated with budget rivals such as Asda and Morrisons. The initiative starts today (September 27).
Waitrose says this follows strong growth in its own-branded goods, which were launched in March 2009 and now make up 17% of sales.
The move comes at a competitive time in the food retail sector, with products such as bread and milk being discounted despite rising commodity prices.
The grocer is running a wide reaching press advertising campaign highlighting the branded goods that will be involved in the price match.
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