John Lewis Partnership losses more than double in tougher trading

Russ Mould, investment director at AJ Bell, believes Christmas will be a crucial period for John Lewis.

He said: “The tentative recovery at John Lewis is now looking as fragile as one of its teapots as the company blames summer heatwaves for a slump in trading.

“Pre-tax losses more than doubled in the first half of the year and that will ramp up the pressure ahead of the all-important Christmas season as the company looks to claw back profit in the second half.

“John Lewis’ chair, Tesco alumni Jason Tarry, has a plan to revive the business but after the shock of the pandemic and the post-Covid cost-of-living crisis, this storied name in UK retail faces yet another big test.”