British retailer John Lewis warned that consumer confidence is being damaged by the shadow of Brexit and that performance would take a further hit after first-half profit tumbled by more than half. Employee-owned John Lewis, comprising the eponymous department store business and the upmarket Waitrose supermarket chain, on Thursday reported pretax profit down 53 per cent at 26.9 million pounds ($35.6 million), citing weak consumer demand and investment in its restructuring process. The group has also been hurt by currency movements, with the value of the pound having plunged since ...
UK retailer John Lewis warns of Brexit impact after profit slides
Sterling is weaker and there's evidence to show that confidence is being affected, says Charlie Mayfield