John Lewis says recovery on track as losses narrow

Published On Sep 12, 2024, 2:44 AM

The John Lewis Partnership has robustly reduced its losses in the first half of the year, with a reported deficit of £30 million compared to £59 million last year, primarily due to strong performance at its Waitrose supermarket chain, which saw a 5% increase in sales. Despite challenges faced by John Lewis department stores, which experienced a 3% sales decline due to reduced consumer spending and adverse weather, the retailer remains optimistic about its recovery plan and projects significant profit growth for the year. Plans are underway to enhance the shopping experience through partnerships, including an alliance with Waterstones and the expansion of convenience stores. The incoming chairman is expected to bring fresh leadership.