THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Interviews
Property
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
John Lewis Partnership has 'positive' Christmas but considers suspension of partner bonus

The John Lewis Partnership has reported “positive” trading in the seven weeks to 5 January, with like-for-like sales at the Waitrose supermarket chain and the John Lewis department stores rising by 0.3% and 1% respectively.

GENERAL MERCHANDISE

John Lewis Partnership has 'positive' Christmas but considers suspension of partner bonus

The John Lewis Partnership has reported “positive” trading in the seven weeks to 5 January, with like-for-like sales at the Waitrose supermarket chain and the John Lewis department stores rising by 0.3% and 1% respectively.

Sales at John Lewis department store were boosted by strong performances in fashion where sales were up 6.8%. In addition, the Partnership said Black Friday helped the retailer to achieve its biggest ever sales week.

Meanwhile, Waitrose benefited from a 12.8% increase in online sales over the period.

Commenting on the performance, Sir Charlie Mayfield, chairman of the John Lewis Partnership, said: “Two main factors are affecting the retail sector - oversupply of physical space and relatively weak consumer demand. Despite this, we had a positive Christmas trading period thanks to the extraordinary efforts of Partners in our business, delivering differentiated products and service to customers.”

However, the John Lewis Partnership said it is continuing to expect its full year profits to be substantially lower this year following slower sales growth, higher costs and margin pressure at John Lewis.

While the Partnership said it had the financial strength and flexibility to pay a “modest” bonus this year, it added: “The board will need to consider carefully in March, following the usual process, whether payment of a bonus is prudent in the light of business and economic prospects at that time.”

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy