Waitrose has snapped up four London stores from high street retailer Woolworths.

Woolworths has disposed of the leases of the stores to the supermarket chain for £25.5m, and the deal is expected to be completed by 31 July.

Woolworths this morning posted a 2.2% drop in like-for-like sales for the 19 weeks to 14 June and revealed that Trevor Bish-Jones would stand down as CEO.