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| John Lewis in no-deal Brexit warning as it falls to a loss | John Lewis in no-deal Brexit warning as it falls to a loss |
| (32 minutes later) | |
| The John Lewis Partnership, which owns the department store chain and Waitrose supermarkets, has fallen to a half-year loss and said a no-deal Brexit would have a "significant" impact. | The John Lewis Partnership, which owns the department store chain and Waitrose supermarkets, has fallen to a half-year loss and said a no-deal Brexit would have a "significant" impact. |
| The group reported a loss of £25.9m, blaming a drop in sales. | The group reported a loss of £25.9m, blaming a drop in sales. |
| It said "subdued consumer confidence" in the first half of the year had taken its toll on results. | It said "subdued consumer confidence" in the first half of the year had taken its toll on results. |
| John Lewis pointed to "soft demand" for its home and electrical goods as a particular weak spot. | John Lewis pointed to "soft demand" for its home and electrical goods as a particular weak spot. |
| The partnership, which normally makes most of its profits in the second half of the year, said it was making preparations for a no-deal Brexit. | The partnership, which normally makes most of its profits in the second half of the year, said it was making preparations for a no-deal Brexit. |
| However, the partnership's chairman, Charlie Mayfield, said: "Should the UK leave the EU without a deal, we expect the effect to be significant and it will not be possible to mitigate that impact. | However, the partnership's chairman, Charlie Mayfield, said: "Should the UK leave the EU without a deal, we expect the effect to be significant and it will not be possible to mitigate that impact. |
| "Brexit continues to weigh on consumer sentiment at a crucial time for the sector as we enter the peak trading period." | "Brexit continues to weigh on consumer sentiment at a crucial time for the sector as we enter the peak trading period." |
| Salary increases and an IT overhaul also ate into the group's profits, John Lewis said. | |
| Amid what it described as a "weak grocery market" sales at Waitrose slipped slightly to £3.4bn. | |
| However, the supermarket chain also reported a 10.7% growth in online sales, which the partnership said was "well ahead of the market". | |
| At the John Lewis department store business, total sales were £2.1bn, down 1.8%. |