John Lewis Partnership is to close five out of 350 of its Waitrose stores as the group revealed that its full year profits will be substantially lower this year than last. The retailer said that it will be gradually slimming down its high street presence and is beginning with the sale of four of its Little Waitrose convenience format stores to the Co-op along with its Camden High Street (London) supermarket which has been sold to Aldi.
It is also planning to reduce the size commitment of at least two of its department stores by leasing space to other retailers.
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