High street retailer, John Lewis Partnership (JLP) will continue to invest despite a fall in profits. Profits for the first half of the year fell by almost 15% though revenue was slightly up. JLP will prioritise investment in IT and its distribution network as “Both are critical to improving service and convenience,” said the company. The results follow the opening of two national distribution centres in Milton Keynes as part of JLP’s “omnichannel strategy”. However, chairman Sir Charlie Mayfield was adamant the results were “not as a consequence of the EU referendum result, which has had little quantifiable impact on sales so far”.

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