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Losses at John Lewis and Waitrose owner almost triple to £88m

Partnership blames restructuring costs plus tax rises and new packaging rules but expects full-year profit to growThe owner of John Lewis and Waitrose has said its losses nearly tripled to £88m in the first half of this year, as it took a hit from restructuring costs as well as new tax and regulatory charges.John Lewis Partnership, which operates 36 department stores and more than 300 Waitrose supermarkets, said new packaging regulations and increased national insurance contributions had cost it £29m, while it spent £54m on restructuring its business, mainly on replacing outdated technology. Continue reading...

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