Home General John Lewis suffers first half-year loss | Business – The Times

John Lewis suffers first half-year loss | Business – The Times

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John Lewis suffers first half-year loss | Business – The Times

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The partnership blamed a lack of consumer confidence, IT expenses and cost inflation in the department stores, which together outweighed better news from WaitroseAlamy

The employee-owned partnership behind John Lewis and Waitrose has slumped to its first ever half-year loss.

Deepening losses at John Lewis blamed on subdued consumer confidence, IT expenses and cost inflation have offset an improved performance at Waitrose.

The John Lewis Partnership, which owns the department store chain and upmarket grocer, also said that it was continuing to invest to tackle the challenging retail conditions but warned that should the UK leave the EU without a deal “we expect the effect to be significant and it will not be possible to mitigate that impact”.

The outlook was made alongside half-year results that showed that gross sales fell 1.2 per cent to £5.4 billion in the first half of the year and it made an underlying…

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