October 7, 2024

Waitrose recovery helps John Lewis slash losses and improve profit outlook

Claudio Ctin1 mins
Waitrose recovery helps John Lewis slash losses and improve profit outlook

Retail group says ‘transformation plan is working’ and announces tie-up with Waterstones

Business live – latest updates

The owner of John Lewis and Waitrose has said it is on track for “significantly higher” full-year profits after it slashed half-year losses amid a recovery at its supermarkets that offset falling sales at its department stores.

Nish Kankiwala, the chief executive of the John Lewis Partnership, said: “These results confirm that our transformation plan is working and we expect profits to grow significantly for the full year, a marked improvement from where we were two years ago.

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