John Lewis Partnership Reports £124m Pre-Tax Loss in First Half
The John Lewis Partnership warned of a significantly tougher market due to high interest rates and global uncertainty, with pre-tax losses widening to £124 million.
Losses at the John Lewis Partnership increased by over 40 percent during the first half of 2025, reaching £124 million in pre-tax figures. This represents a rise from an £88 million loss in the same period last year. Jason Tarry, chair of the partnership, described the period as significantly more difficult than anticipated. He attributed the downturn to increased caution among consumers replacing home goods, alongside higher national insurance contributions and summer heatwaves that raised operational costs. Tom Denyard noted specific challenges with refrigeration equipment for Waitrose but highlighted that sales across the supermarket arm grew by 4 percent, outperforming the department store chain which saw a 2 percent decline. The partnership operates 36 department stores and more than 300 Waitrose supermarkets, with total half-year sales rising to £6.3 billion.
