John Lewis losses deepen as higher national insurance costs and new packaging tax hits the partnership.
In the six months to June the department store made an operating loss of £34 million compared to the £5 million deficit in 2024.
John Lewis said the results was “significantly impacted by costs not present in the equivalent prior period, including £29 million of costs for the new Extended Producer Responsibility (EPR) packaging levy (where we took the full annual cost in our first half results), alongside higher National Insurance Contributions (NICs).”
Waitrose made £110 million in profit and John Lewis online and stores is £53 million in the red.
JLP chairman Jason Tarry, said, “Our clear focus on accelerating investment in our customers and our brands is working: more customers are shopping with us, driving sales, and helping Waitrose and John Lewis outperform their markets.
“We achieved our highest recorded levels of positive customer satisfaction, a testament to the great service of our Partners.
“The investments we are making, combined with our plans for peak trading, provide a strong foundation for the remainder of the year.
“While we are reporting a loss in the first half, we’re well positioned to deliver full year profit growth, which we’ll continue to invest in our customers and Partners.”
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