Supermarket Chain Faces Action for Restrictive Land Agreements

  • Waitrose admits to signing contracts preventing rivals from opening stores near its locations
  • Seven breaches found by Competition and Markets Authority (CMA)
  • Breaches occurred between 2010 and 2019 in Bromsgrove, Rustington, Swindon, Daventry, Chester, Notting Hill Gate, and Market Harborough
  • Waitrose confident clauses weren’t enforced, no impact on competitors or shoppers
  • CMA order aims to ensure more choice and cheaper groceries amid cost of living crisis
  • Similar changes made by Tesco in 2020 after breaching the same rules 23 times

Waitrose has admitted to signing land agreements containing clauses that prevented rival supermarkets from opening stores near its own sites, as found by the Competition and Markets Authority (CMA). The CMA discovered seven breaches of the Groceries Market Investigation (Controlled Land) Order 2010 between 2010 and 2019. Waitrose has agreed to remove these restrictions in order to adhere to the order, following similar changes made by Tesco in 2020 after it breached the same rules 23 times. The CMA aims to ensure shoppers have more choice and access to cheaper groceries amid the cost of living crisis. Waitrose believes the clauses weren’t enforced and had no impact on competitors or customers.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Waitrose’s breaches of the Groceries Market Investigation (Controlled Land) Order 2010 and its agreement to remove the restrictions. It also includes quotes from a Waitrose spokesperson and an official from the CMA, which adds credibility to the report. However, it could be improved by providing more details about the specifics of the breaches and their impact on competition and consumers.
Noise Level: 3
Noise Justification: The article provides relevant information about Waitrose’s breaches of the Groceries Market Investigation (Controlled Land) Order 2010 and its consequences for consumers. It also mentions similar actions taken by Tesco in the past. However, it could benefit from more analysis or discussion on the impact of these practices on competition and consumer choice in the market.
Financial Relevance: Yes
Financial Markets Impacted: Waitrose, supermarket industry
Financial Rating Justification: The article discusses Waitrose’s breaches of the Groceries Market Investigation (Controlled Land) Order 2010 and its impact on competition in the supermarket industry, which can affect pricing and consumer choices. This has financial relevance as it involves a major company in the retail sector and could potentially impact other companies in the same industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk