John Lewis partnership loss narrows in H1of ’21

Bloomberg

John Lewis Partnership Plc’s loss narrowed in the first half as the British retailer’s turnaround efforts started to pay off.
The operator of the John Lewis department store and upmarket grocer Waitrose said the $40 million pretax loss came after taking almost 100 million pounds of exceptional costs related to store closures and redundancy payments. This is a significant improvement on the 635 million-pound loss the partnership recorded last year, when it wrote down the value of John Lewis stores.
The partnership is co-owned by more than 80,000 employees and owns 331 Waitrose
supermarkets and 34 John Lewis stores.