John Lewis Partnership sales rise but profits still set to slump

John Lewis Partnership, Britain’s biggest department store operator, said its sales rose 1.4 percent to 2.2 billion pounds in the seven weeks to Jan. 5 but said it still expected full-year profits to fall substantially.

Last September, the group forecast profits for its year to end-Jan. 2019 would be substantially lower than 2017-18’s profit before partnership bonus, tax and exceptional items of 289 million pounds.

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