Waitrose reported a 23.4% fall in operating profit to £237.4m in the year ended 1 February, while pretax profit at parent John Lewis Partnership fell 9% to £342.7m.
Like-for-like sales at Waitrose rose 1.4% in the 52 weeks ended 31 January, but sales since then are down 2.8%.
Waitrose managing director Mark price described conditions as the most difficult they had been during 34 years with John Lewis, and said things were in a state of flux, something that would not be resolved this year.
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The Guardian, p. 29
The Independent, p. 65
