John Lewis Partnership, which operates 36 department stores and more than 300 Waitrose supermarkets, saw its pre-tax losses nearly triple in the first half of 2025, as reported by The Guardian.
Losses rose to £88 million, up from £30 million over the same period a year ago, as the employee-owned retailer absorbed £29 million in new packaging regulations and national insurance costs and spent £54 million on restructuring.
Sales across the group rose 4% to £6.2 billion. Waitrose revenues grew 6% to £4.1 billion, though underlying profits slipped £3 million to £110 million. John Lewis department store sales increased 2% to £2.1 billion, but underlying losses surged to £53 million.
Chair Jason Tarry said the group was accelerating investment in stores and brands, aiming to boost customer engagement and full-year profit growth. Initiatives include revamping stores, shifting staff hours, and bringing in extra workers funded by fashion brands.
The retailer recently announced plans to host Topshop in 32 John Lewis stores from February, giving the brand its only national UK high street presence following its acquisition by Asos.
The Partnership noted the macroeconomic environment remains challenging, with high energy bills, rising food prices, and regulatory changes affecting costs and consumer demand.