Business

John Lewis is considering closing more stores with cost-cutting bids

The chain closed eight stores in July last year, putting 1,300 jobs at risk as the shift in online sales during the pandemic hit overall transactions.

Staff were also told that the bonus would not be paid for the first time since 1953, after profits fell 46% in the first half.

Dame Sharon White, chairman of the owner John Lewis Partnership, is currently considering further reductions. The Sunday Times..

John Lewis declined to comment, but it is understood that he is considering closing up to eight stores and reducing the total from 42 to 34.

The announcement may be made at the same time as the company’s annual results are announced next month.

By April 2021, we have reduced the employment of up to 1,500 people at our headquarters under the partnership’s five-year plan to return to “sustainable interests”.

John Lewis expects more than 60% of sales to go online by 2025.

Dame Sharon said: “A pandemic can change consumer shopping habits, which can take five years to five months.

“Both brands have entered a crisis with a strong and well-established online business. In the case of Waitrose, we plan to expand in preparation for the end of our relationship with Ocado.”

John Lewis is considering closing more stores with cost-cutting bids

Source link John Lewis is considering closing more stores with cost-cutting bids

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