Department stores and grocery business John Lewis Partnership has posted a first-half loss and told staff they will not receive a bonus this year.
The retailer made an interim loss of £55m, similar to that suffered in the comparable period last year. Chair Dame Sharon White said trading at both John Lewis and Waitrose had been “encouraging” in the second half so far but the board had decided there could be no bonus when profits were under such pressure. She had already warned of that likelihood.
At John Lewis department stores, total trading sales - reflecting full customer sales value, including VAT and before adjustments for sale or return sales and other accounting adjustments - fell 9.7% to £1.86bn and like for likes were down 9.5%. At Waitrose trading sales climbed 7.6% to £3.7bn and like for likes were up 9.6%.
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