Adrian Lawrence Podcast

John Lewis announce further store closures.

February 21, 2021 Adrian
Adrian Lawrence Podcast
John Lewis announce further store closures.
Chapters
Adrian Lawrence Podcast
John Lewis announce further store closures.
Feb 21, 2021
Adrian

In today's episode Adrian Lawrence talks about John Lewis and their announcement of a further store closure programme. John Lewis is a well respected high street brand in the UK, and unusually it is owned by it's members rather than shareholders. Last year it announced losses of £635m and that means it has won't pay its staff a bonus for the first time since 1953. It is planning to close up to 8 of its remaining 42 store, this will be a significant blow to its loyal customers as John Lewis is often the anchor store in many town centre locations.

It is yet another sign of how damaging the pandemic and the three lockdowns are to the UK economy. There is a positive side to the announcement in that John Lewis expects up to 70% of its sales to be through its digital channel by 2025, this also highlights how retailers are increasingly focussing on their online sales channels.

To learn more about Reporting Accounts and how we hold insights and information into more than 4.8 million UK companies visit our website which can be found at https://www.reportingaccounts.com

Show Notes

In today's episode Adrian Lawrence talks about John Lewis and their announcement of a further store closure programme. John Lewis is a well respected high street brand in the UK, and unusually it is owned by it's members rather than shareholders. Last year it announced losses of £635m and that means it has won't pay its staff a bonus for the first time since 1953. It is planning to close up to 8 of its remaining 42 store, this will be a significant blow to its loyal customers as John Lewis is often the anchor store in many town centre locations.

It is yet another sign of how damaging the pandemic and the three lockdowns are to the UK economy. There is a positive side to the announcement in that John Lewis expects up to 70% of its sales to be through its digital channel by 2025, this also highlights how retailers are increasingly focussing on their online sales channels.

To learn more about Reporting Accounts and how we hold insights and information into more than 4.8 million UK companies visit our website which can be found at https://www.reportingaccounts.com