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John Lewis has warned that earnings within the first half of the yr can be "close to zero".
Last yr John Lewis made £26.6m within the first half, and blamed heavy funding for this yr's anticipated fall.
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The well-known High Street title additionally warned over full-year earnings, saying they may very well be "substantially lower" than final yr, when it made £290m.
The retailer stated its Waitrose chain would shut 4 comfort retailers and one small grocery store.