HomeNewsNewsJohn Lewis Partnership ‘forgoing profit’ to help customers and partners through cost of living crisis | Business News

John Lewis Partnership ‘forgoing profit’ to help customers and partners through cost of living crisis | Business News

The John Lewis Partnership says it is “forgoing profit” to help customers and partners navigate the challenges of the cost of living crisis.

The employee-owned company, comprising the eponymous department store chain and Waitrose supermarkets, reported a loss of £99m for the half-year to 30 July compared to a red figure of £29m a year earlier.

It said the heightened loss reflected its decision to shield shoppers from some of its rising costs during the period.

The statement revealed a one-off cost of living support payment for full-time staff, known as partners, of £500.

Part-time workers would receive less.

Entry level pay for employees would also increase by 4%, it said, at a cost of £10m.

The partnership admitted at the time of its last results statement in March that it had passed on “small” hikes to prices across its operations, reflecting the growing cost of food and manufacturing linked to record energy prices.

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