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John Lewis appeared to backtrack on Dame Sharon White’s original turnaround plan as CEO Nish Kankiwala vowed to focus “unashamedly” on retail after the partnership posted its first profit in four years. We’ve secured the funding we need for the four years of the plan.
rise in like-for-like sales over the golden quarter as its turnaround plan continues to bear fruit. The departmentstore retailer saw UK sales surge to £3.6bn in the 13 weeks to 30 December, driven by market-leading growth in food and a strong performance in womenswear. increase in online revenue and 2% lift in store sales. “We
The convenience, variety, and valueoffered by online platforms presents a compelling proposition for consumers. Furthermore, the COVID-19 pandemic has played a significant role in this shift, with safety concerns prompting many to avoid crowded departmentstores. What Back-to-School Items Are a Must for Most Students?
In an interview with Inside Retail , he discussed how CBCH and TDE are rebounding following collapse, as well as his plans to expand in the years to come. We’ve tried to be smart with our forward buying, we’ve [put] a lid on costs, and are making sure that we’re promoting a valueoffer. I call it swimming against the tide.”
This time around the departmentstore is using AI to help it match its prices to those at 25 retailers, including M&S, Next, Boots and AO.com. It spent £39m on price cuts in the half to bolster its valueoffer and win back the customers it lost as shoppers sought cheaper groceries elsewhere amid the cost-of-living crisis.
The company plans to further invest in its digital infrastructure and explore new market opportunities. It aims to continue its expansion into the convenience food sector and strengthen its position in the clothing market with innovative and fashionable product offerings. We are becoming more relevant, to more people, more of the time.
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