Britain's John Lewis lifts profit guidance after strong Christmas

The department stores and Waitrose supermarket chain owner said it now expected its profits to be ahead of guidance provided in September when it forecast a small loss or a small profit for the 2020/21 period. The group also said it had decided to repay a COVID-19 loan of 300 million pounds ($410 million) to the government two months early as it believes it has sufficient liquidity for the future.

Reuters | London | Updated: 22-01-2021 13:00 IST | Created: 22-01-2021 12:44 IST
Britain's John Lewis lifts profit guidance after strong Christmas
Representative image Image Credit: Twitter(@repjohnlewis)

Britain's John Lewis Partnership lifted its annual profit forecast after better than expected trading during the Christmas period. The department stores and Waitrose supermarket chain owner said it now expected its profits to be ahead of guidance provided in September when it forecast a small loss or a small profit for the 2020/21 period.

The group also said it had decided to repay a COVID-19 loan of 300 million pounds ($410 million) to the government two months early as it believes it has sufficient liquidity for the future. It will publish its annual results on Mar. 11.

Also Read: Britain working with Pfizer, AstraZeneca to increase vaccine supplies

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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