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Business

Profits drop at John Lewis

By: KentOnline reporter multimediadesk@thekmgroup.co.uk

Published: 10:52, 11 September 2008

Profits at stores giant John Lewis have dropped by more than a quarter amid difficult trading conditions.

The partnership, which has a flagship department store at Kent's Bluewater shopping centre, announced pre-tax profits were down by 26.6 per cent to £107.3 million.

The figures, for the half year to July 26, showed profits at its Waitrose supermarkets fell 8.4 per cent to £102.7 million.

Charlie Mayfield, John Lewis Partnership chairman, said: "In difficult trading conditions the Partnership is determined to do the right thing to build our business for the future."

Amid the gloom however, weekly sales figures for the week to September 6 for the Bluewater John Lewis store were ten per cent up on last year.

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