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John Lewis Partnership Repays Covid Financing; Raises Profit Guidance

John Lewis and Partners sign corner store 725 x 500.jpg

The John Lewis Partnership is today announcing the early repayment of the £300m HM Treasury and Bank of England Covid Corporate Financing Facility, which was due for repayment on 15 March 2021.

Despite the head winds of the last year when John Lewis stores were closed for several months, and future trading volatility, the Partnership believes it has sufficient liquidity going forward.

Trading during peak, which includes Black Friday and the Christmas period, held up better than anticipated. As a result, we expect our full-year profits to be ahead of the profit guidance provided at our half-year results last September, where we said the most likely outcome would be a small loss or a small profit for 2020/21. We will publish our full-year results on 11 March 2021.

Source : John Lewis Partnership

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22 January 2021

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