January 9, 2020 / 7:17 AM / 19 days ago

John Lewis sees annual profit lower after weak Christmas

LONDON, Jan 9 (Reuters) - Britain’s John Lewis Partnership reported a 1.8% drop in sales in its key Christmas trading period on weaker demand at its department stores and it guided that group annual profits would be “significantly” lower than last year.

The employee-owned business, which comprises department stores as well as upmarket grocery chain Waitrose, also said that Paula Nickolds, managing director of the department stores, would leave in February. (Reporting by Sarah Young; editing by Kate Holton)

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