Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

John Lewis suffers first half loss of £99m as inflation hits trade

by September 15, 2022
September 15, 2022
John Lewis suffers first half loss of £99m as inflation hits trade

The John Lewis Partnership slumped to a first half loss of £99m largely driven by soaring inflation which prompted customers to spend less in its stores.

Inflation also hit costs, as the department store group warned of a “highly uncertain” outlook in the run-up to the key Christmas sales period due to the cost of living crisis.

The group, which is staff-owned and includes the Waitrose supermarket chain, made a profit of £69m in the same period of the six months to 30 July last year.

“No one could have predicted the scale of the cost of living crisis that has materialised, with energy prices and inflation rising ahead of anyone’s expectations,” said Sharon White, chair at John Lewis Partnership. “As a business, we have faced unprecedented cost inflation across grocery and general merchandise.”

JLP warned the outlook for the rest of the year was “highly uncertain owing to the cost of living crisis and its impact on discretionary spending as well as criticality of our Christmas trading period”.

The group also announced additional support for its staff, known as partners, including a one-off cost of living support payment of £500 for full-time workers.

Read more:
John Lewis suffers first half loss of £99m as inflation hits trade

0
FacebookTwitterGoogle +Pinterest
previous post
EU expects to raise €140bn from windfall tax on energy firms
next post
Zoom plans a move into email and digital calendars

You may also like

Kentucky State Laws on Personal Injury – A...

March 29, 2023

Ticketmaster warns North American customers after major hack

July 9, 2024

One-third of UK businesses urge government to cut...

October 22, 2024

Etsy’s new ban on sex toys and erotic...

July 7, 2024

Nigel Farage: I can’t think of any government...

May 15, 2024

Jaguar to repurpose used EV batteries for Northamptonshire...

August 23, 2023

Taxi firms crowdfund final legal push against Uber...

March 13, 2025

Medmin secures £750,000 investment to transform self-pay surgery...

July 13, 2023

myenergi lands £30m investment from Energy Impact Partners...

October 12, 2023

CatX raises $2.7 million to bring more alternative...

November 27, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved