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 [...]
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 [...]
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 [...]
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 [...]
The company tax debate must focus on realistic reform December 3, 2012 THE Public Account Committee’s (PAC) ongoing criticism of large multinationals for their corporation tax payments is an ill-considered departure from a more sensible debate. Multinational companies, like Starbucks and Google, are by definition different to domestic businesses (like John Lewis or Morrisons). This is especially true of internet retailers like Amazon. Under the current law, [...]
Comet to start sale as buyers eye up stores November 5, 2012 COMET will this week kick off a fire sale of its remaining stock, though staff and shoppers remain in the dark about the future of the electrical goods retailer. Comet, which called in the administrators on Friday, intends to open its 236 stores as normal this week. The firm’s website has been closed to new [...]
City Moves | Who’s switching jobs November 4, 2012 Legal & General Property Bill Page has been appointed business space research manager at the property fund management firm. He joins from Jones Lang LaSalle, where he was most recently head of Europe, Middle East and Africa offices research. Page has also held roles at the Estates Gazette Group. Quindell Portfolio Robert Thompson has been [...]
Former banking star takes John Lewis job February 16, 2012 HELEN WEIR, the former head of retail banking at Lloyds Banking Group, has been appointed by John Lewis as group finance director, making a return to the sector eight years after leaving the same post with the DIY retailer Kingfisher. John Lewis said Weir will formally join the company in April, replacing Marisa Cassoni at [...]
Debenhams to open 17 stores as sales pick up October 25, 2012 DEBENHAMS yesterday revealed it is to open 17 UK stores next year and announced its first Christmas campaign in six years as the department store group posted a 1.6 per cent rise in like-for-like sales. Chief executive Michael Sharp said the group plans to lure shoppers and bolster sales during the crucial Christmas trading period [...]