John Lewis profits slump 99% in ‘challenging times’
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Reuters
Profits at John Lewis have fallen to almost zero in the first half of its financial year.
Sir Charlie Mayfield, chairman of the John Lewis Partnership, said: “These are challenging times in retail”.
The owner of the department store chain and Waitrose supermarkets had warned in June that its half-year profits would be wiped out.
Its latest results showed profits for the six months to 28 July had fallen to £1.2m, down 99% from a year earlier.
