The John Lewis Partnership has reported a significant reduction in losses, with a pre-tax loss of £30m for the first half of the financial year, down from £59m a year earlier.
Nish Kankiwala, CEO, stated that the transformation plan is working, with expectations of significant profit growth for the full year, highlighting a marked improvement compared to two years ago.
While Waitrose sales increased by 5%, John Lewis department store sales decreased by 3%, attributed to a slower external environment for general merchandise.
The return of the 'never knowingly undersold' price promise is seen as a strategy to attract more customers and increase sales for the company.
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