John Lewis Partnership loss widens to £89m as brand spend rises 29%

John Lewis Partnership reported a loss before tax and exceptionals of £89m for the 26 weeks to August 1, 2026, up from £34m. Sales across the group rose 2% to £6.3bn. At the same time the retailer raised spending on its brands by 29%, to £246m, according to Marketing Week.

Waitrose sales up 4% to £4.3bn, John Lewis down 2% to £2bn

The two brands moved in different directions. Waitrose sales grew 4% to £4.3bn, with an adjusted operating profit of £103m, down £7m. John Lewis sales fell 2% to £2bn and its adjusted operating loss widened to £83m from £53m. Retail Gazette reports the partnership blames rising fuel costs, weaker demand for big-ticket items and higher operating costs.

The outlook for 2026/27 is cautious, the company said, adding that it is prepared for Christmas. Investment across stores, technology, supply chain and brands rose 26% in 2025/26. The figures show John Lewis spending more while earning less.

Tom Denyard says a shared loyalty offer is being built

The marketing story in the results is loyalty. Tom Denyard, managing director of Waitrose, told Marketing Week the business is “in the process of starting to build a loyalty offer”. He said it would give both brands new capabilities in the future. A scheme spanning both brands was first proposed three years ago. It has not launched yet.

Each brand runs its own program today. My John Lewis membership grew 10% in the half. Waitrose says the Net Promoter Score for its loyalty offer rose 20 points year on year. That score measures how likely customers are to recommend it. Both are the numbers a retail loyalty program is judged on before it shows up in profit.

Little Treats gave away 10 million treats in 10 months

Waitrose’s Little Treats scheme has handed out more than 10 million free treats in 10 months, or one every three seconds, Marketing Week reports. The company says the scheme lifted My Waitrose card membership and the amount of customer data it collects.

The Dish podcast passes 1 billion downloads

Waitrose’s Gastronomy campaign was rated the highest-scoring supermarket ad outside Christmas in independent testing. The Dish, the Waitrose podcast, passed 1 billion downloads. John Lewis launched a Gift List vodcast and a content studio called The Box as part of a push into social-first content. Chairman Jason Tarry said the group has been investing more in social and digital channels to reach customers more often.

For marketers, the results are a live test of raising brand spend while losing money. John Lewis Partnership is reporting membership growth, NPS and content reach to justify a 29% rise in brand investment as losses widen. The cross-brand loyalty scheme is the next thing to watch; three years after it was proposed, Denyard still calls it a start. Retail marketers defending budgets this autumn will need the same non-sales metrics ready.

Read next: our earlier retail story.