John Lewis blames higher taxes as it swings into red

A RISE in National Insurance contributions and a packaging levy has “significantly” hit John Lewis as the retailer suffered a half-year loss despite an increase in revenue.

- By Amber Murray

The firm, which also owns Waitrose, said it lost £33million before tax and exceptional items in the year to July 26.

Bosses stated it was “significantly impacted by costs not present in the equivalent prior period”.

It included £29m of costs for the new extended producer responsibility packaging levy and higher National Insurance.

Chairman Jason Tarry said that subdued consumer confidence was another roadblock but the company can “continue to progress momentum through into the second half, and particularly going into Christmas”.