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John Lewis Partnership widens pre-tax loss to £124m as costs rise

Pre-tax loss for the six months to 1 August increased to £124m from £88m a year earlier, despite Waitrose sales rising 4%.

Reported · Written up by our desk · Europe

The John Lewis Partnership, the owner of John Lewis and Waitrose, reported a larger first-half loss as higher operating costs and softer consumer demand weighed on results, according to the Guardian Business.

The retailer said its pre-tax loss for the six months to 1 August rose to £124m, up from £88m in the same period in 2025, attributing the decline to continued investment in its transformation, a more difficult trading environment, and increased costs of doing business.

Some higher costs included greater national insurance contributions and the expense of managing operations through heatwaves, the company said.

The turnaround plan is already under way, with 16 department stores and at least 20 Waitrose outlets closed, and thousands of staff jobs cut, while overall half-year sales rose 2% to £6.3bn. Waitrose sales increased 4% to £4.3bn, while department store sales fell 2% to £2bn.

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