John Lewis Partnership reports £124m pre-tax loss amid rising costs and weak consumer confidence

The John Lewis Partnership has reported a significant increase in losses for the first half of 2026, with pre-tax losses reaching £124 million. This marks a rise of more than 40% from the £88 million loss recorded during the same period in 2025.

The retailer attributed the financial setback to a combination of escalating operational costs and a noticeable dip in consumer confidence, which has made shoppers more cautious with their spending.

Despite the broader challenges facing the department store business, Waitrose, the partnership’s supermarket chain, managed to grow its sales figures. The group, which operates 36 department stores and over 300 Waitrose locations, stated that it is continuing to pursue its turnaround strategy to address these headwinds.