BusinessPostCorner.com
No Result
View All Result
Thursday, July 16, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

John Lewis says recovery on track as losses narrow

September 12, 2024
in Business
Reading Time: 2 mins read
A A
0
John Lewis says recovery on track as losses narrow
ShareShareShareShareShare

The retailer has been trying to win back customers after a tough few years that has seen it cut jobs and close several stores.

In March, it reported its first annual profit after years of losses, but also said it would not pay a staff bonus for the second year in a row.

Announcing the latest results, Nish Kankiwala, chief executive of the John Lewis Partnership, said: “These results confirm that our transformation plan is working and we expect profits to grow significantly for the full year, a marked improvement from where we were two years ago.”

Sales at the John Lewis department stores were down 3% over the first half of the year, with fashion hit by “the well-documented squeeze on customers’ disposable income and unseasonal weather”.

Diana Wehrle, retail analyst at Rendle Intelligence and Insights, said fashion was a “key thing” for John Lewis but they were facing challenges from rival chains. “Marks and Spencer have really upped their game,” she said.

John Lewis said its strategy for boosting the business included the return of its “never knowingly undersold” price pledge, which it announced last week.

It has also agreed a new tie-up with book chain Waterstones, which is set to open in its Oxford Street store in London next month.

Waitrose sales climbed 5% over the half-year, in a period which has seen the first opening of an in-store outlet from Gail’s bakery.

The supermarket chain is also planning to open up to 100 new convenience shops over the next five years.

Ms Wehrle said the tie-ups aimed to drive more people into stores and make them stay longer. However, she added it was “not going to significantly move the dial” on sales.

Waitrose has been the “shining light”, she said, and the new convenience stores made sense as “a lot of their offering is designed in smaller portions”.

Credit: Source link

ShareTweetSendPinShare
Previous Post

High Street closures led by banks, chemists and pubs

Next Post

Utah social media law aimed at protecting children is blocked by federal judge

Next Post
Utah social media law aimed at protecting children is blocked by federal judge

Utah social media law aimed at protecting children is blocked by federal judge

EU threatens Meta with fines over ‘addictive’ Facebook and Instagram

EU threatens Meta with fines over ‘addictive’ Facebook and Instagram

July 10, 2026
Reeves tells BBC: Burnham needs worked-through plan to govern from the start

Reeves tells BBC: Burnham needs worked-through plan to govern from the start

July 11, 2026
Ripple Joins UK Wholesale Digital Markets Taskforce

Ripple Joins UK Wholesale Digital Markets Taskforce

July 14, 2026
Ukraine building Patriots is in Lockheed’s interest, McCaul says

Ukraine building Patriots is in Lockheed’s interest, McCaul says

July 11, 2026
Jailbreaks to OpenAI’s GPT-5.6 unlock dangerous cyber capabilities, U.K. agency finds

Jailbreaks to OpenAI’s GPT-5.6 unlock dangerous cyber capabilities, U.K. agency finds

July 10, 2026
Ripple x402 RLUSD AI Payments: Will XRP Price Benefit?

Ripple x402 RLUSD AI Payments: Will XRP Price Benefit?

July 15, 2026
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

White House teleprompter operator accused of making 0k off Trump speech bets

White House teleprompter operator accused of making $100k off Trump speech bets

July 16, 2026
IRS quietly raises mileage rates due to inflation

IRS quietly raises mileage rates due to inflation

July 16, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!