John Lewis blames high costs as it axes build-to-rent venture Retail Retail giant John Lewis is to withdraw from its build-to-rent business in a shock U-turn on its diversification plans, after bemoaning high interest rates and a downturn in the London property market. John Lewis Partnership (JLP), which also owns Waitrose, took on management of around 1,000 homes in Bromley, West Ealing and Reading as part [...]
Asda: Will 2026 be the year supermarket giant bounces back? Retail This time last year, analysts warned that Asda needed to “dig down into its soul” if it was to turn around its fortunes. After a rollercoaster 2024 in which it struggled with debt, strikes and falling sales, the Leeds-headquartered supermarket giant was hoping the new year would begin to reveal green shoots of recovery. Under [...]
No-zempic: Jolly Brits swap weight-loss jabs for stuffing this Christmas healthcare Brits are set to go all out this Christmas as nearly half plan to swap out their weight loss jabs for an extra helping of turkey and pudding. One in three don’t plan to return to their normal dose until after New Year in order to take full advantage of the festive season, according to [...]
John Lewis blames higher taxes as it swings into the red September 11, 2025 A rise in national insurance contributions and a packaging levy has ‘significantly’ impacted John Lewis, with the retailer reporting a half-year loss despite an increase in revenue. The company, which also owns Waitrose, reported a loss before tax and exceptional items of £33m for the 26 weeks ended 26 July. It has been “significantly impacted [...]
Tesco and Waitrose back King’s challenge to tackle hunger issues May 18, 2025 Four UK supermarkets are launching a joint campaign to tackle hunger, following a challenge from the King. Tesco, Sainsbury’s, Morrisons and Waitrose will take part in the Let’s Make A Meal Of It campaign, which encourages customers to donate to charity FareShare either online or by rounding up their bills in store. The campaign is [...]
Greencore: M&S sandwich supplier roars ahead amid takeover battle April 1, 2025 Convenience food manufacturer Greencore told markets this morning that it expects profit to come in ahead of expectations for the second quarter, underpinned by “on-going operational and commercial excellence initiatives and a continued focus on cost control”, it said. Convenience food company Greencore supplies all major supermarkets in the UK, including M&S, with chilled prepared [...]
John Lewis scraps staff bonus again despite tripling profit March 13, 2025 The John Lewis Partnership has scrapped its staff bonus for the third year in a row despite a near-tripling in profit. The company, which owns both John Lewis and Waitrose, told markets this morning that profit before tax increased from £42m to £126m over the 52 weeks to 25 January. Overall sales rose three per [...]
John Lewis misses festive sales target as turnaround falters January 31, 2025 Sales at John Lewis are reported to have fallen short over the key Christmas trading period as middle-class Brits increasingly switch to shops like Marks and Spencer. According to reports from the Daily Telegraph, sales at Waitrose similarly missed targets. The employee-owned John Lewis Partnership (JLP) blamed “lower consumer confidence and weaker than expected market confidence” for [...]
Deliveroo: Push into retail and groceries drives growth January 16, 2025 Deliveroo has said its retail and grocery partnerships drove growth in the last quarter of the year despite a still-tough trading environment. Its share price rose nearly five per cent in early trades. The delivery company launched its on-demand grocery service in March 2020, and has since partnered with a range of brands, with companies [...]
Government should consider Post Office mutualisation, ex-minister says October 20, 2024 The government should consider plans to turn the Post Office into a John Lewis-style mutual, a former business minister has said, amid reports Whitehall is looking at the viability. Conservative shadow business secretary Kevin Hollinrake has said he would support a proposal to transform the Post Office’s business structure into a mutual in which customers [...]