John Lewis reported pre-tax losses of £89mn for the six months to August 1, more than doubling from £34mn last year, as weaker customer demand and heatwaves created a challenging trading environment.

Sales rose 2 per cent to £6.3bn, driven by Waitrose's 4 per cent sales growth to £4.3bn, while John Lewis sales fell 2 per cent to £2bn due to weaker demand for larger discretionary purchases.

Chair Jason Tarry, who joined from Tesco two years ago, noted that the employee-owned model allows for longer-term thinking, with profit traditionally earned in the second half. He has launched a three-year revival plan called "Rise" aiming to restore John Lewis to leadership, targeting hundreds of millions in extra profit from loyalty schemes and retail media.

The group remains cautious about the second half outlook given ongoing economic and geopolitical pressures, despite opening new Waitrose shops and refurbishing existing stores.