WAITROSE BAGS ESSENTIAL GAIN

Operating profit at Waitrose jumped 27 per cent to £268.2million, driven by new stores, rapid online growth and its lower-priced Essential range, launched last March.

A 15 per cent increase in operating profit to £165.9million at John Lewis department stores also boosted its parent’s profits, which rose to £306.6million in the year to January 30 from £279.6million a year ago.

The employee-owned firm’s 70,000 staff will now share a bonus pot of £151million, with payments worth 15 per cent of salary.

Waitrose like-for-like store sales in 2009 grew 3.6 per cent, although they slowed to 2.8 per cent in the first five weeks of the new financial year.

“We anticipate more challenging trading conditions in 2010, particularly in the second half of the year,” the group said.