John Lewis Partnership hopes to finish the year at a profit after better than expected negotiations during Black Friday and during the holiday season.
The owner of John Lewis department stores and the Waitrose supermarket chain said year-round profits were now expected to be above forecasts in September, when the forecast was for a small loss or small profit.
Better than expected performance led the group to pay back a £300 million loan from the government and the Bank of England's emergency support scheme two months earlier. The group, however, has not repaid the money it saved from a business tariff holiday, a move that the largest supermarket groups have already made. A spokeswoman said that the interruption of the pandemic remains a barrier to trade.
Source: News UK
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