Waitrose to Modernise its Stores

Waitrose is set to modernise its stores across the UK in a bid to win back shoppers. The supermarket is said to be cutting costs to free up cash to revamp its stores.

The Telegraph reports that a complete refresh of all 332 of its shops would reportedly cost up to £250m. It comes as the John Lewis-owned supermarket tries to win back shoppers as the cost of living crisis continues to push customers towards discounters Aldi and Lidl.

Waitrose's market share has fallen from 5% to 4.7% over the past 12 months, according to Kantar. The upmarket grocer is now looking at a turnaround plan, led by American consultants Bain. As well as reducing its product ranges in an effort to avoid 'duplication' and boost sales, bosses look set to push ahead with plans to modernise stores and make them more efficient.

Initial changes include cutting the selection of yoghurts stocked in stores by 10%, which has reportedly led to a 10% increase in sales in the category. The supermarket has also started stocking more exclusive pr