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John Lewis Partnership reports £88m loss before tax in H1 2025/26
Yahoo Finance· 2025-09-12 09:52
Core Insights - John Lewis Partnership reported a pre-tax loss of £88 million ($119.17 million) for the first half of the fiscal year 2025/26, despite an increase in sales and total revenue [1][6] Financial Performance - Sales increased by 4% to £6.2 billion, while total revenue rose by 5% to £5.4 billion during the period ending 26 July 2025 [1] - Cash generated from operations was £177 million, reflecting a £30 million increase from the previous financial year [1] - The company had £1.5 billion in liquidity and renewed a revolving credit facility of £460 million for five years [2] - Losses before tax and exceptional items (LBTBE) were £34 million, remaining broadly flat compared to £5 million recorded in the previous financial year [2] - Waitrose's sales rose by 6% to £4.1 billion, with an adjusted operating profit of £110 million, down by £3 million from the previous year [2] - John Lewis sales increased by 2% to £2.1 billion, with an adjusted operating loss of £53 million, down by £4 million from the previous year [3] Strategic Focus - The chairman emphasized a focus on accelerating investment in customers and brands, which has led to increased customer satisfaction and sales performance [4] - The company is optimistic about full-year profit growth despite the first-half loss, attributing this to ongoing investments in customers and partners [5] - In June 2025, John Lewis appointed Anna Braithwaite as the new chief customer officer, indicating a strategic move to enhance customer engagement [5]