The John Lewis Partnership, which operates 36 department stores and over 300 Waitrose supermarkets, has announced a pre-tax loss of £124m for the six months ending 1 August. This represents an increase of more than 40% compared to the £88m loss recorded in the same period of 2025.
Jason Tarry, the chair, attributed the decline to ongoing investment in transformation, a more challenging trading environment, and increased operational costs. These higher costs included greater national insurance contributions and expenses related to managing operations during heatwaves.
The group is currently implementing a turnaround plan that has involved the closure of 16 department stores and at least 20 Waitrose outlets, alongside staff job reductions. While first-half sales at Waitrose grew by 4% to £4.3bn, department store sales saw a 2% drop to £2bn.