Falling Profits Could Cause Store Closures: Waitrose Owner
Britain's John Lewis Partnership warned that its 2018-19 profit would be substantially below the previous year's level, hurt by expected declines at its department stores, adding that it could close some shops.
John Lewis has, in recent years, appeared to be weathering a difficult environment for British retailers better than rivals Marks & Spencer, Debenhams and House of Fraser, but the warning on Wednesday showed the extent of its problems.
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