British supermarket group Waitrose has announced plans to invest £1 billion in new and existing shops over the next three years.
The announcement, made on Wednesday, also said that the retailer would open up to 100 convenience shops across the UK over the next five years.
The chain, which is part of the employee-owned John Lewis Partnership, currently trades from 329 stores as well as online.
Waitrose lost some market share through the cost-of-living crisis, but industry data published in July showed it edged higher for the first time since January 2022.
It had a share of 4.5% in the UK market according to the latest data from market researcher Kantar that was published last week.
The supermarket group said its investment would also focus on areas that differentiate its business from competitors.
While rival market leader Tesco and number two Sainsburys have removed their service counters, Waitrose is upgrading offers at its meat and fish counters.
It will also give its wine selection more prominence, while stores would also have greater flexibility to respond to local demand, have more third-party collaborations and more space dedicated for grocery orders made online.
The first new Waitrose store in six years will open in Hampton Hill in south-west London later this year, subject to planning approval.
A second store will follow in Greater London early next year.
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