The employee-owned partnership behind John Lewis and Waitrose has suffered a half-year loss for the first time in nearly 50 years as it struggles with a fast-changing retail landscape.
Subdued consumer confidence and a reluctance among shoppers to spend on discretionary household items combined to produce deepening losses at the chain.
It has led to the group reporting a loss for the opening six months of the year for the first time since 1972, although John Lewis Partnership said it remains confident of making a profit over the course of the year.
The employee-owned partnership behind John Lewis and Waitrose has suffered a half-year loss for the first time in nearly 50 years as it struggles with a fast-changing retail landscape.
Subdued consumer confidence and a reluctance among shoppers to spend on discretionary household items combined to produce deepening losses at the chain.
It has led to the group reporting a loss for the opening six months of the year for the first time since 1972, although John Lewis Partnership said it remains confident of making a profit over the course of the year.
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