Flailing high street has worse to come in the year ahead January 6, 2013 AFTER holding their breath for the last few weeks, some retailers can at last allow themselves a cautious sigh of relief. Positive sales numbers from the likes of John Lewis and Next have given the sector a much-needed dose of optimism, resulting in a slight hike in share prices for some of the larger players. [...]
John Lewis cuts staff bonus as profit falls March 7, 2012 Britain’s biggest department store group John Lewis cut its staff bonus for the first time in three years and posted a 3.8 per cent fall in year profit, showing even the firm’s affluent customer base is not immune to straitened times. The 148-year-old employee-owned group, whose stakeholder business model has been lauded by politicians including [...]
Who’s switching jobs November 26, 2012 Alvarez & Marsal The professional services firm has appointed Faisal Galaria as a senior director. He was previously vice president of Spotify, where he was responsible for mergers & acquisitions and strategic partnerships. Galaria has also held senior roles at Skype and eBay. Pinsent Masons Jonathan Beastall has been appointed to the law firm’s corporate [...]
Comet’s passing brings a brief celebration for rivals’ shares but the challenges they face haven’t gone away November 1, 2012 COMETS are said to burn across the sky on the death of a prince. The passing of this Comet was marked instead by the rise of its rivals’ share prices, with Dixons Retail Group doing especially well on the assumption that its chains will pick up business. But no one can pretend that kind of [...]
The lasting public legacy of the 2012 Olympic Games December 11, 2012 AS each year draws to a close I like to look back over YouGov’s BrandIndex and consider the big gainers and fallers of the previous twelve months. Usually this involves examining Britain’s most recognisable corporate brands, such as last week when we looked at how the competition between department store giants John Lewis and Marks [...]
What the other papers say this morning December 17, 2012 FINANCIAL TIMES Insurers warn regulators on reforms Insurers are conducting a war of words with regulators trying to prevent a repeat of AIG’s collapse, as the industry makes a last-ditch effort to avoid capital surcharges. US banks call for easing of Basel III US banks are making a last-minute push to ease new global liquidity [...]
CITY VIEWS: WHY IS JOHN LEWIS BEATING THE HIGH STREET? March 7, 2012 ANMOL CHIBBER | DZ BANK “It attracts the higher end of the market. The rich are getting richer while the poor are getting poorer. It is also known for its quality, service, and matching prices.” MICHAELA MORAN | BANK OF AMERICA “People know what they are buying at John Lewis. It’s reliable. You know you [...]
Virtual gains help support the expense of physical expansion September 13, 2012 JUDGING from these results, one unfortunate legacy of a golden summer for John Lewis is going to be how disappointing its figures seem next time around. The exceptional achievement of a near 60 per cent rise in pre-tax profit also rests on a number of one-off events: a low base for comparison, a Diamond Jubilee [...]
Virtual gains help support the expense of physical expansion September 13, 2012 JUDGING from these results, one unfortunate legacy of a golden summer for John Lewis is going to be how disappointing its figures seem next time around. The exceptional achievement of a near 60 per cent rise in pre-tax profit also rests on a number of one-off events: a low base for comparison, a Diamond Jubilee [...]
John Lewis sales up despite snow February 17, 2012 Britain’s biggest department store chain John Lewis said sales rose last week as heavy snow prompted its shoppers to switch to the firm’s internet offer. The employee-owned retailer said on Friday its sales rose 4.1 percent to 52.3 million pounds in the week to February 11. “The start of the week saw the cold wind [...]