Wednesday, 27 June 2018

John Lewis Partnership to close four Waitrose convenience shops and a supermarket after issuing profit warning



John Lewis Partnership is to close four Waitrose convenience shops and a supermarket after issuing a profit warning.
 
The group said that it expected profits in the first half of the year to be "close to zero", while profits for the full year will come in "substantially" lower than last year.


The company cited "market uncertainty" and significant extra costs as a result of "greater IT investment" as the drivers behind the forecast.


It said Waitrose was expected to see profit growth and John Lewis a decline.


The Little Waitrose convenience shops listed for closure are:


:: Manchester Piccadilly
:: Spinningfields in Manchester
:: Colmore Row in Birmingham
:: Portman Square in west London
:: Camden supermarket in north London


The firm, which has shut 12 stores since 2010, said closures are always a last resort.


It did not say how many jobs would be affected.





SKY      News.