The John Lewis partnership has revealed its unaudited results for year to January 31, 2009.


Waitrose was expected to see a fall in sales as cash conscience consumers traded down from the chain but in-fact they rose by 0.4%, excluding petrol, on a like for like (lfl) basis.

John Lewis itself faired worse with lfl sales down 3.4% - both results are compared to the same period in 2007.

The partnership saw profits before exceptional items down £100.2m or 26%, to £279.6m and partnership bonus and tax was £407m, an increase of £27.2m, or 7.2%.

However, this includes the £127.4m gain on the disposal of Ocado.

Chairman of the partnership, Charlie Mayfield, said: "It was a very tough year and we met the challenges of the deteriorating conditions.

"We controlled costs tightly, traded confidently and stayed true to our customer promise of quality and price competitiveness.

"We think 2009 will be another very difficult trading year, we've set an ambitious pace for change and continue to have the appetite and funds to expand and enhance our offer."

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