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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.
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 lower prices were also joined by an enhanced product range, such as new partnerships with Ottolenghi and food health company Zoe.
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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