Oct 4, 2019

John Lewis cuts costs like a PLC as challenges mount

The changes, which will replace the boards of Waitrose and John Lewis with a tighter group-level management board, will also save £100m a year. Others pointed out that the divisional heads - Paula Nickolds at John Lewis and Rob Collins at Waitrose - would be removed just as the partnership appointed a chairman with no retail experience. More than 40 per cent of John Lewis sales are now online. For now John Lewis can still draw on customer loyalty. Many Friday morning shoppers at Peter Jones, its department store in Chelsea where John Spedan Lewis pioneered the concept of employee ownership in the early 1900s, remained devotees.

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