Fox News presenter Glenn Beck said in July that Obama had a "deep-seated hatred for white people" and called him a "racist".
His comments were in response to remarks that Obama had made about police in Massachusetts. The president said they had "acted stupidly" in arresting a black professor as he entered his own home.
Beck's outburst led to several companies, including Wal-Mart, Best Buy and Travelocity, to withdraw their ads from his US show.
In the UK, a Waitrose shopper emailed the upmarket supermarket chain to complain about its decision to maintain its involvement with Fox News despite Beck's remarks.
Waitrose has subsequently pulled its ads from the Fox News slot on Sky in the UK. The supermarket said that "the decision was taken in response to views expressed by [its] customers and was not politically motivated".
A Waitrose spokesman said in a statement: "We take the placement of our ads in individual programmes very seriously, ensuring the content of these programmes is deemed appropriate for a brand with our values.
"Since being notified of our presence within the Glenn Beck programme, we have withdrawn all Waitrose advertising from the Fox News channel with immediate effect and for all future TV advertising campaigns."