John Lewis results: £234m loss means no staff bonus and looming jobs losses.
A loss of £78m was recorded for the financial year which ended in January but when exceptional costs were added the loss reached £234m. Exceptional costs included the write down in value of Waitrose stores.
Costs were sent"soaring" throughout the year, Ms White said, an increase of nearly £180m on the previous year.At the same time, sales were down 2% and totalled £12.25bn. While John Lewis sales were strong, Waitrose sales fell 3%. While there were more customers - 20 million of them, meaning an increase of 800,000 shoppers - they bought less, in a sign that shoppers were moving grocery spending to discount retailers such as Lidl and Aldi.
A total of £32m was spent supporting partners with a cost of living payment and free food over winter, the results said.
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