The John Lewis Partnership (JLP) has revealed its transformation plan will take two extra years to finish than anticipated, whereas revealing a drop in losses over the primary half of its monetary yr.
The worker-owned firm, wherein employees are generally known as companions, mentioned {that a} mixture of upper prices resulting from inflation and a necessity for better funding had hit its turnaround timetable.
It was initially scheduled to have been accomplished within the 2025/26 monetary yr and ship better productiveness and effectivity to spice up income following years of disappointing monetary efficiency.
The partnership, which includes the eponymous John Lewis malls and Waitrose supermarkets, reported a loss earlier than tax of £56.2m.
That was a 43% enchancment on the £99.2m sum in the identical six-month interval final yr.
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