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Sandra Halliday Published
March 11, 2025
John Lewis Partnership is predicted to announce a return to profit later this week, while it has also emerged that its CEO has said the firm will in future be “laser-focused” on retail.
Its annual results are due on Thursday and it has struggled in recent years with both its 34 departments stores and 329 supermarkets lagging its rivals.
It has been predicted by independent retail analyst Nick Bubb that it will report a £25 million profit after a £77 million loss a year ago, even though sales are expected to have risen just a couple of percent. But he thinks the sales rise will be down to a 4% increase at Waitrose supermarkets while the department stores’ sales are thought to have fallen by 2% or more.
Meanwhile as mentioned, a video sent to staff by CEO Nish Kankiwala has seen him saying that the company’s earlier turnaround plan didn’t really deliver.
“Fundamentally, we’re going to laser-focus on retail. “We’re going to be a brilliant retailer… It is so critical that we’re going to focus on that,” The Telegraph reported.
That comes after criticism over outgoing Chairman Sharon White’s plans to move into areas like build-to-rent homes and more financial services with some observers saying the company needs to concentrate on fixing its core speciality.
It will be interesting to see who replaces White when she leaves early next year. However, the Chairman’s role isn’t the be all and end all of the firm’s recovery.
The company now has a beefed up management team with Kankiwala overseeing the entire operation and the more recent arrival of former Jigsaw chief Peter Ruis to run the department stores. He was with John Lewis in its glory days and we might hear more about his plans later this week.