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John Lewis Partnership (JLP) has issued a profit warning for this year and also announced plans to close a number of Waitrose stores.
It stated: “Unlike many of its competitors, the John Lewis Partnership has a well balanced and well located store portfolio, with 353 Waitrose shops and 50 John Lewis.
“As we develop our plans to prioritise differentiation we will continue to make adjustments to our overall estate, including exit or closures, but at a rate that’s in line with what we have seen over the last few years. To this end, Waitrose today announced the disposal of four convenience shops and one small supermarket.”
The Waitrose stores closing are:
- Spinningfields, Manchester
- Manchester Piccadilly
- Colemore Row, Birmingham
- Portman Square, London
- Camden, London
The group, which runs John Lewis department stores and the Waitrose chain, added that it will “take steps to strengthen its balance sheet by a further £500m over three years to invest in product and service innovation”.