The John Lewis Partnership has made a loss of £25.9m in the half year to 27 July after what chairman Sir Charlie Mayfield said were “difficult” trading conditions.
“The re-drawing of the UK retail landscape continues apace,” he said.
“We have historically made the majority of our profits in the second half of the year,” he said.
“However, should the UK leave the EU without a deal, we expect the effect to be significant and it will not be possible to mitigate that impact.
” In readiness, we have ensured our financial resilience and taken steps to increase our foreign currency hedging, to build stock where that is sensible, and to improve customs readiness.
“However, Brexit continues to weigh on consumer sentiment at a crucial time for the sector as we enter the peak trading period.”