John Lewis losses widen to £124m as shopper confidence dips
Summary
The John Lewis Partnership, which owns John Lewis and Waitrose, reported larger losses of £124 million in the first half of the year due to rising costs and lower shopper confidence. While Waitrose sales increased, John Lewis department store sales fell, and the company has closed several stores and cut jobs as part of a turnaround plan.Key Facts
- John Lewis Partnership’s pre-tax loss rose from £88 million to £124 million for the six months ending August 1, 2026.
- The company runs 36 John Lewis stores and over 300 Waitrose supermarkets.
- Rising costs included higher national insurance payments and expenses related to managing heatwaves.
- Waitrose sales increased by 4%, but John Lewis store sales fell by 2%.
- The company closed 16 John Lewis stores and 20 Waitrose outlets and cut thousands of jobs.
- Staff received a 2% bonus earlier in the year, the first in four years.
- Heatwaves and the cost of living impacted shoppers, reducing sales of big items like sofas and beds.
- John Lewis expects better sales in the second half of the year, especially during the Christmas season.
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