Five reasons why John Lewis profits have dived

A weaker pound, move to online shopping and heavy retail discounting have all hurt the venerable chainThe John Lewis Partnership, which owns a string of department stores and the Waitrose supermarket chain, has suffered a near 99% plunge in first-half profits to £1.2m. So what has gone wrong at the high street stalwart?Maplin, Toys R Us and Jacques Vert have all collapsed in recent months, but a raft of retailers and restaurant groups are facing financial problems and are trying to close s