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John Lewis on the march

Published:  23 July, 2008

The John Lewis Partnership, owners of Waitrose, is expected to report up to 40% increase in half-year profits later this week.

Retail analysts expect the group to hit profits of up to 140 million for the first six months of the year compared to 97m.

Turnover is said to be 6% higher at 3.2bn.

The results will put the rest of the high street in the shade and is an immediate return for the new management team at the Partnership, which includes Mark Price, head of Waitrose, which has already returned good results for the year to date.

It is thought the poor weather has helped sales not only of food and drink, but across the department store as people have been encouraged to look now at home improvements and prefer to go to outlets that offer a wide range.