John Lewis profits offset by pensions

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The John Lewis partnership has reported a 26% drop in pre-tax profits in a half-year update, blaming pension changes which will be £60m higher than last year, as well as a tough trading environment.  

Although Waitrose’s like-for-like sales fell for the first time in seven years, theupmarket grocer did relatively well in a highly competitive grocery market, managing to grow market share amid the supermarket price war.   

There was an18% increase in the number of ‘myWaitrose’ care holders, whilst the retailer’s game-changing ‘Pick Your Own Offer’ scheme, which allows customers to select ten products to save 20% on every time they shop, now has 700,000 r

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