The John Lewis Partnership is on track to deliver significantly higher profits for the full year, with revenue rising 2% to £5.2bn in the 26 weeks to July 27. Losses fell from £57m to £5m.
Nish Kankiwala, chief executive officer 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.
“We continue to invest heavily in quality, service and value, and customers are responding well – with more people shopping with us and customer satisfaction increasing. While we have much more to do, we’re well set up for a positive peak trading period.”
The company says it has a clear strategy to drive further growth and productivity in John Lewis with investment to enhance the customer experience including:
- Reimagining Never Knowingly Undersold for how customers shop today – price matching 25 major UK retailers in store and online with the help of AI technology.
- Investing in the flagship John Lewis Oxford Street store by creating one of the largest beauty halls in the country. Additionally, the John Lewis High Wycombe and Cheadle stores are undergoing investment, with all stores benefiting from upgrades;
- Forging new partnerships, including with Waterstones, which is set to debut in John Lewis Oxford Street in October 2024;
- Investing in own and third party brands.
- Focusing on customer service, with more Partners serving customers on the shop floor; training for every John Lewis Partner in customer facing positions; improved use of technology such as digital headsets; taking payments throughout stores and not just at the till.
Customers will also be able to benefit from a linked loyalty hub, which will reward shopping at both brands.
Outgoing chair Dame Sharon White will today, (16 September), hand over to Jason Tarry, formerly with Tesco UK.
Top: John Lewis has reported a marked improvement in its first half results.
